Nebraska Investment Council has made a $50m (€42.4m) commitment to Wheelock Street Capital’s latest opportunistic US real estate fund.
The pension fund disclosed in a board meeting document that the commitment to Wheelock Street Real Estate Fund VIII was funded by $40m from the Nebraska Benefit and Cash Benefit plans and $5m from the Omaha School Employees’ Retirement System.
The remaining capital was provided by $3m from General Endowments and $2m from the Healthcare Endowment.
Wheelock Street Capital intends to build a portfolio for the fund comprising 25% mixed-use and retail assets, 20% leisure hotels and 20% residential land.
The strategy will blend the purchase of existing properties with new development, further allocating 10% each to senior housing, industrial and multifamily or affordable housing, alongside 5% for condos.
The commitment is part of Nebraska Investment Council’s $200m real estate pacing plan for the current year.
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