Seattle City Employees' Retirement System committed up to $60 million to J.P. Morgan Strategic Property Fund Asia.
The $3.9 billion pension fund's board approved the commitment to the open-end real estate fund managed by J.P. Morgan Asset Management at its Sept. 9 meeting, said Jason Malinowski, chief investment officer.
As of June 30, the pension fund's actual allocation to real estate was 7.7%; the target is 12%.
