At a glance
- Fund XIV is a closed-end, value-added strategy focused on industrial, office and multifamily assets and grocery-anchored shopping centers in major U.S. markets.
- Two other public retirement systems have committed in recent months, according to IREI: the San Francisco Employees' Retirement System and the Teachers' Retirement System of Louisiana.
- The pension fund's $16.5 billion in assets and 5 percent real estate target imply a real estate program of roughly $825 million.
The Illinois Police Officers' Pension Investment Fund has committed $250 million to TA Realty Value-Add Fund XIV, IREI reported on Oct. 22.
Fund XIV is a closed-end, value-added strategy focused on industrial, office and multifamily assets and grocery-anchored shopping centers in major U.S. markets. IREI's Ask IRE.IQ service flags grocery-anchored retail, citing healthy fundamentals in necessity-based retail subsectors.
Two other public retirement systems have committed in recent months, according to IREI: the San Francisco Employees' Retirement System and the Teachers' Retirement System of Louisiana.
The pension fund's $16.5 billion in assets and 5 percent real estate target imply a real estate program of roughly $825 million. The $250 million commitment would be about 30 percent of that implied amount.
Fund XIV's predecessor, TA Realty Value-Add Fund XIII, closed with $1.8 billion in equity. IREI reports that no fundraising goal has been determined for Fund XIV.
Reported by the Who's investing desk from Institutional Real Estate, Inc. (IREI). Published . Corrections