The council, which oversees $25.7 billion in assets, made the decision at its meeting Thursday. The investment is for the council's five defined benefit plans, which have a total of $11.6 billion in assets, and its $1.3 billion in endowment assets.
The Rockwood fund will target value-added real estate across select urban and suburban core markets with a focus on office, multifamily and mixed-use assets, according to board documents.
Previously, the council made a $40 million commitment to Rockwood Capital Real Estate Partners Fund X in 2016 and a $20 million commitment to Fund IX in 2012.
The council's pension plans have a target real estate allocation of 6%, and its endowments have a real estate target of 5%.