Pontiac (Mich.) General Employees' Retirement System committed $5 million to TerraCap Partners V.
The $551 million pension fund's board approved the commitment to the value-added real estate fund managed by TerraCap Management at its Jan. 27 meeting, recently released meeting minutes show.
The pension fund previously committed $4 million to TerraCap Partners IV.
As of Dec. 31, the actual allocation to real estate was 8.3%.
Investment consultant Dahab Associates assisted.
Deborah Munson, executive director, could not be immediately reached for further information; an email from the system referred questions to its website.
