Mississippi Public Employees' Retirement System, Jackson, committed $200 million to Invesco U.S. Income Fund.
The $36 billion pension fund's board approved the commitment to the open-end core-plus real estate fund at its Oct. 26 meeting, said Shelley Powers, pension fund spokeswoman.
PERS conducted a search because it was underallocated in real estate and wanted to diversify its holdings in real estate, Ms. Powers said. Blackstone, Carlyle Group and PGIM Real Estate were the other finalists, she said.
As of Sept. 30, the pension fund's actual allocation to real estate was 9.7%.
Investment consultant Callan assisted.