Allegheny County Employees' Retirement System, Pittsburgh, made a follow-on commitment of $5 million to Washington Alliance Capital Fund II.
The $909 million pension fund approved the commitment to the core real estate fund at its Oct. 19 meeting, recently released meeting minutes showed.
The additional commitment followed the board approving the graduation of Washington Alliance Capital from its emerging manager program to its primary portfolio, according to the minutes. The pension fund originally committed $2 million to the fund in 2020.
As of Sept. 30, the actual allocation to private real estate was 13%; the target is 12.5%.
Investment consultant AndCo Consulting assisted.