St. Louis Public Schools assigns $5 million to value-added real estate

St. Louis Public School Retirement System committed $5 million to ElmTree U.S. Net Lease Fund IV.

The $911 million pension fund's board approved the commitment to the value-added real estate fund managed by ElmTree Funds at its Feb. 22 meeting, said Susan Kane, executive director.

The pension fund previously committed $8 million to ElmTree U.S. Net Lease Fund III in 2017.

As of Feb. 28, the actual allocation to real estate was 5.7%; the target is 7%.

Investment consultant NEPC assisted.

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