District of Columbia Retirement Board approved two new commitments totaling up to $65 million, recently released board meeting minutes show.
The $8.2 billion pension fund committed up to $35 million to Homestead Capital USA Farmland Fund III, which falls within the pension fund's natural resources asset class.
As of Sept. 30, the actual allocation to natural resources was 1.4%; the target is 2%.
The pension fund also committed up to $30 million to Artemis Real Estate Partners Fund III, a closed-end fund investing in value-added and opportunistic U.S. real estate.
As of Sept. 30, the actual allocation to real estate was 5.5%; the target is 6%.
Sheila Morgan-Johnson, the board's executive director, was not available to provide further information.