Memphis Light, Gas & Water Division, Memphis, Tenn., made two new real estate commitments totaling $50 million.
The $1.5 billion pension fund's board approved commitments of $25 million each to value-added real estate funds Heitman Value Partners V and TerraCap Partners V, managed by TerraCap Management, at its Sept. 16 meeting, spokeswoman Stacey Greenberg said in an email.
As of June 30, the actual allocation to real estate was 13.1%.
Investment consultant CBIZ Investment Advisory Services assisted.
