San Antonio Fire & Police Pension Fund committed $25 million to an open-end core real estate fund managed by IDR Investment Management.
The $4.1 billion pension fund's board approved the commitment at its July 26 meeting, recently released meeting minutes show.
The minutes did not disclose the name of the IDR fund. The pension fund conducted a shortlist search for open-end core real estate managers, and PGIM Real Estate and Principal Real Estate Investors were the other finalists.
The pension fund's target allocation to real estate is 7%.
Cary Hally, chief investment officer, could not be immediately reached for further information.
