University of West Florida Foundation Inc., Pensacola, committed $4 million to Harbert U.S. Real Estate Fund VII.
The $94 million foundation's executive committee approved the commitment to the value-added real estate fund managed by Harbert Management at its Aug. 27, recently released committee meeting minutes show.
As of June 30, the actual allocation to real estate was 2.9%; the target is 7.5%.
Investment consultant Atlanta Consulting Group assisted.
Foundation officials could not be immediately reached for further information.