New Investment Commitments to the Fund
The Board of Trustees for the County Employees’ and Officers’ Annuity and Benefit Fund of Cook County (CEABF) affirmed the recommendation from the Investment Committee meeting held on February 26, 2015 approving Non-Core Real Estate commitments to Angelo Gordon & Company, Mesirow Financial Investment Management and Blackstone Group. Total allocation for Non-Core strategies from the search increased from $60 million to $80 million to remain consistent with the target allocation given the increase in the Fund’s total assets since the search was initiated. All allocations represent new commitments for the Fund. Funding will come from the Russell REIT ETF. No managers were terminated as part of this process.
Partnership
|
Award Amount |
| Blackstone Real Estate Partners VIII |
$30 million |
| Mesirow Financial Real Estate Value Fund II, L. P. |
$30 million |
| AG Core Plus Realty Fund IV |
$20 million |
Total
|
$80 million |
The Non-Core Real Estate search was initiated in January 2014 and lead by the Fund’s investment consultant Callan Associates. The target allocation to real estate for the CEABF is 10% of plan assets.
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