Alaska Retirement Management Board (ARMB) intends to commit up to $135m (€115.4m) to core open-ended funds as part of its real estate investment plan for the fiscal 2022 year.
The pension fund said in a meeting document that for the fiscal year starting in July, it intends to commute the capital to either an existing fund or hire new managers.
ARMB also plans to allocate some new capital to its core real estate separate account managers including increasing a UBS separate account by $140m. UBS is targeting apartment properties within a multi-property type discretionary mandate.
ARMB is considering investing $125m via an existing separate account relationship with Sentinel Real Estate to buy four to six new apartments.
As part of ARMB’s asset allocation plan for the new fiscal year, the allocation to real estate has increased 13% to 14%, this gives the pension fund around $700m of capital available to invest.
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