Searches and Hires

2 Cook County funds commit to real estate

Cook County Employees' and Officers' Annuity & Benefit Fund and the Cook County Forest Preserve District Employees' Annuity & Benefit Fund, both in Chicago, made two core-plus real estate commitments totaling up to $130 million, spokeswoman Bravetta Hassell said in an email.

The pension funds, which have combined assets of $10.1 billion and issued an RFP in August, committed up to $80 million to Lion Industrial Trust, an open-end fund managed by Clarion Partners, and up to $50 million to closed-end fund Artemis Real Estate Partners Fund III.

The pension funds share a 9% target to real estate. Funding comes from reducing a passive real estate investment trust account managed by Russell Investments, the size of which could not be immediately learned.

Investment consultant Callan assisted.