Ann Arbor (Mich.) Employees' Retirement System committed $9 million to Torchlight Debt Opportunity Fund VII.
The $511 million pension fund's board approved the commitment to the real estate debt fund managed by Torchlight Investors at its Sept. 17 meeting, recently released meeting minutes show.
As of June 30, the actual allocation to real estate was 9.1%; the target is 9%.
Investment consultant Meketa Investment Group assisted.
Executive Director Wendy Orcutt could not be immediately reached for further information.