Oklahoma Teachers' Retirement System, Oklahoma City, made a follow-on commitment of $2.5 million to L&B Golden Driller Fund, according to Sarah Green, executive director of the $20 billion pension fund.
The commitment to the real estate fund managed by L&B Realty Advisors and the retirement system was approved at a board meeting July 27 and follows a $500,000 commitment made to the fund in June, Ms. Green said in an email.
The additional $2.5 million commitment would cover upcoming operational expenses, Ms. Green said.
As of June 30, the pension fund's actual allocation to real estate was 8.3%. Its target is 10%.