Phoenix City Employees' Retirement System committed $20 million to opportunistic real estate fund Wheelock Street Real Estate Fund VI, said Greg Fitchet, investment officer.
The $2.7 billion pension fund previously committed $25 million to Wheelock Street Real Estate Fund V in 2016. COPERS has made a total of four commitments to funds managed by Wheelock Street Capital.
The current asset allocation to real estate is 13.4%.
Real estate consultant Alignium assisted.