Louisiana School Employees' Retirement System, Baton Rouge, committed up to $25 million to Pennybacker VI.
The $2 billion pension fund's board approved the commitment to the value-added real estate fund managed by Pennybacker Capital at its Feb. 6 meeting, said Matthew J. Freedman, chief investment officer, in an email.
The pension fund previously committed up to $25 million to Pennybacker V in 2019.
As of Sept. 30, the pension fund's actual allocation to real estate was 14.4%; the target is 12%.
