Cook County Annuity & Benefit Fund, Chicago, made two new commitments totaling $50 million to real estate funds run by emerging managers.
The $12.3 billion pension fund committed $25 million each to value-added fund Artemis Real Estate Partners Fund IV, and real estate debt fund Basis Investment Group Fund II, said Fernando Vinzons, director of investments.
The pension fund issued an RFP for emerging real estate managers in June because it is below its real estate target and wants to increase its exposure to emerging managers, Mr. Vinzons said at the time.
As of Dec. 31, the actual allocation to real estate was 7%; the target is 9%.
Investment consultant Callan assisted.
