State of Wisconsin Investment Board (SWIB) has approved to lower its real estate target allocation from 8% to 7%, according to a meeting document.
The $147.3bn pension fund has also increased its private equity/debt from 11% to 12%.
The pension fund told 麻豆映画 Real Assets in October that 鈥渢he recommendation change is driven by the current market values across asset classes and pacing assumptions for future capital deployment鈥�.
As of the third quarter of the year, SWIB鈥檚 real estate portfolio was valued at $9bn or 6.9% of the total plan. The targeted range allowed for real estate is 5% to 11%.
SWIB has issued a $47m (鈧�41.5m) commitment to the Campus at SGV Venture. This capital is being used to acquire a core office building in the greater Los Angeles market. MetLife Investment Management, the manager of the separate account investment, declined a request for comment.
SWIB also reveal in the meeting document that it made a $15m investment into its private debt portfolio to target US distribution/cold storage portfolio opportunities.
To read the digital edition of the latest 麻豆映画 Real Assets magazine click here.
