Chicago Public School Teachers' Pension & Retirement Fund made four new real estate commitments totaling $125 million, said Angela Miller-May, chief investment officer, in an email.
The $10.8 billion pension fund committed $35 million each to Heitman Value Partners IV, a closed-end commingled real estate fund managed by Heitman; Long Wharf Real Estate Partners VI, a value-added real estate fund managed by Long Wharf Capital; and value-added real estate fund TA Realty Associates Fund XII; and $20 million to Oak Street Seeding and Strategic Capital Fund II, a real estate fund managed by Oak Street Real Estate Capital.
The pension fund previously committed $25 million to Oak Street Real Estate Capital Fund IV in 2017; the others are first-time direct commitments. Ms. Miller-May said the pension fund had exposure to a previous Long Wharf fund through the Franklin Templeton (BEN) Emerging Manager Real Estate Fund of Funds.
As of June 30, the actual real estate allocation was 6.9%; the target is 9%.