Wyoming State Loan and Investment Board, Cheyenne, made a commitment to Morgan Stanley Prime Property Fund, said Patrick Fleming, chief investment officer, in an email.
The board approved the commitment to Morgan Stanley Investment Management's open-end core real estate fund at its meeting Thursday. Mr. Fleming said the board does not disclose commitment amounts.
Real estate consultant Alignium assisted.
The board oversees $21 billion in seven state permanent funds, including the $8.1 billion Permanent Mineral Trust, $4.1 billion Common School Permanent Land Fund and $2.2 billion Workers Compensation Fund, and two non-permanent funds, which include the state's $5.5 billion in operating funds.
As of March 31, the actual allocation to core real estate was 4.6% in the Permanent Mineral Trust, 4.2% in the Common School Permanent Land Fund and 2.3% in the Workers Compensation Fund.