Southfield (Mich.) Employee Retirement System committed $1 million to TerraCap Partners VI.
The $123 million pension fund's board approved the commitment to the value-added real estate fund managed by TerraCap Management at its Jan. 16 meeting, recently released meeting minutes showed.
The pension fund previously committed $2 million to TerraCap Partners IV in 2019.
As of Dec. 31, the pension fund's actual allocation to real estate was 7.7%; the target is 8%.
Investment consultant AndCo Consulting assisted.
