Seattle City Employees' Retirement System committed up to $17.5 million to Sculptor Real Estate Fund IV.
The $3.1 billion pension fund's board approved the commitment to the real estate fund managed by Sculptor Capital Management at its meeting Thursday, said Jason Malinowski, chief investment officer, in an email.
As of Dec. 31, the pension fund's actual allocation to real estate was 10.3%; the target is 12%.
