Cook County Employees' and Officers' Annuity & Benefit Fund, Chicago, committed $30 million to BIG Real Estate Fund III.
The $13.9 billion pension fund’s board approved the commitment to the real estate debt fund managed by Basis Investment Group at its Dec. 5 meeting, recently released meeting minutes showed.
The pension fund previously committed $25 million to Basis Investment Group Fund II in 2021.
As of Sept. 30, the pension fund’s actual allocation to private real estate was 6.7%; its target is 8.2%.
Investment consultant Callan assisted.
