The $1.7 billion pension fund's board approved the commitment at its March 25 meeting, recently released meeting minutes show.
The pension fund conducted a shortlist search in 2019 and investment consultant Verus Advisory made due diligence visits with Invesco and other finalist Brookfield Asset Management on March 12. The funding source for the new commitment could not be immediately learned.
As of Jan. 31, the actual allocation to real estate was 10.1%.
Verus Advisory assisted.
Leanne Malison, retirement administrator, could not be immediately reached for further information.