Nebraska Investment Council has filed $358.6m (€304.5m) worth of redemption requests from three open-ended funds in its core and core-plus real estate portfolio.
According to a board meeting document prepared by Aksia, the Nebraska Investment Council is redeeming its full $159m investment in the UBS Trumbull Property Income Fund and its entire $101m holding in the PGIM Real Estate-managed PRISA II fund.
Nebraska Investment Council has also requested to redeem $98.6m out of the total $298.7m investment it holds in the Clarion Lion Properties Fund.
The UBS fund is a real estate debt fund that held total commitments of $4.6bn as of February 2025. Nebraska Investment Council has been an investor in the fund since 2015.
PRISA II is a core-plus fund where the pension fund has been a limited partner since 2007.
Nebraska Investment Council’s initial investment in the Clarion Partners fund was made in 2018.
Nebraska Investment Council, which expects to start receiving the capital from the third quarter of the year, plans to use the proceeds to fund $75m to $100m in non-core commitments and a future core-plus allocation to reach the plan’s target real estate exposure.
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