Lubbock (Texas) Fire Pension Fund committed $10 million to American Strategic Value Realty Fund.
The $197 million pension fund's board approved the commitment to the open-end, value-added real estate fund managed by American Realty Advisors at its Sept. 11 meeting, recently released minutes show.
As of June 30, the actual allocation to real estate was 12.3%; the target is 12%.
Investment consultant Ellwood Associates assisted.
Krista Bailey, plan administrator, could not be immediately reached to provide further information.