Chicago Public School Teachers' Pension & Retirement Fund committed up to $35 million to Heitman Value Partners V.
The $11.2 billion pension fund's board approved the commitment to the non-core value-added real estate fund at its remote meeting Thursday.
The pension fund committed $35 million to Heitman Value Partners IV in 2018.
As of Sept. 30, the actual allocation to real estate was 8.2%; the target is 9%.
Investment consultant Callan assisted.