Baton Rouge & Parish of East Baton Rouge (La.) Employees’ Retirement System committed $55 million to Principal Enhanced Property Fund.
The $1.3 billion pension fund’s board approved the commitment to the open-end, core-plus real estate fund managed by Principal Global Investors at its Feb. 25 meeting, said Jeffrey Yates, retirement administrator.
As of Dec. 31, the actual allocation to real estate was 6%; the target is 10%.
Investment consultant AndCo Consulting assisted.