Nebraska Investment Council, Lincoln, committed $15 million to PRISA, an open-end core real estate fund managed by PGIM Real Estate, said Michael Walden-Newman, state investment officer, in an email.
The council, which oversees $37.5 billion in assets, made the commitment on behalf of the $1.5 billion Omaha School Employees' Retirement System at its Sept. 9 meeting.
Separately, the council redeemed $15 million on behalf of OSERS from J.P. Morgan Strategic Property Fund, an open-end real estate managed fund by J.P. Morgan Asset Management. Its real estate consultant, Townsend Group, recommended the move, according to board documents.
The redeemed funds were then committed to Clarion Lion Properties Fund, an open-end core real estate fund managed by Clarion Partners. The council previously committed $211 million to the Clarion Partners' fund in 2018.
As of June 30, OSERS' actual allocation to real estate was 8.7%.