St. Louis Public School Retirement System approved five new commitments totaling $31 million.
The $931 million pension fund's board approved the commitments at its Oct. 27 meeting, said Susan Kane, executive director, in an email.
The board approved commitments of $8 million to BIG Real Estate Fund II, a real estate debt fund managed by Basis Investment Group; $6 million each to real estate fund Alidade Capital Fund V; Fairview Capital Fund VI, a private equity fund managed by Fairview Capital Partners; and Kayne Anderson Real Estate Partners Fund VI, an opportunistic real estate fund managed by Kayne Anderson Capital Advisors; and $5 million to HarbourVest Global Fund 2021, a private equity fund of funds managed by HarbourVest Partners.
As of Oct. 31, the system's actual allocation to private markets was 7.7%; the target is 10%. The pension fund's private markets asset class includes private credit, private equity and private real estate.
Investment consultant NEPC assisted.