MECRS approves $6m in commitments

The US public pension has backed 2 private real estate funds.

Institution: City of Manchester Employees’ Contributory Retirement System
Headquarters: Manchester, United States
Total AUM: $228.71m
Allocation to Alternatives: 19.18%
Bitesize: $2-6m

MECRS has agreed to commit $6 million to two private real estate funds, according to a representative within the organization.

The commitments comprise of $2 million to Dalfen Last Mile Fund IV and $4 million to TA Associates Fund XII.

The $228.71 million public pension currently allocates 19.18% of its funds to alternatives.

As illustrated in the charts below, MECRS has a 10% target allocation to private real estate that currently stands at 8.99%. The pension’s most recent fund commitment in private real estate was $4 million to Kayne Anderson Real Estate Partners V.

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