Fund Universe Library

The Firm The Firm is defined as UBS Realty Investors LLC and UBS Farmland Investors LLC, together Real Estate & Private Markets, Real Estate US. Both entities are registered with the US Securities and Exchange Commission as investment advisors. The Total Firm Gross Assets at December 31, 2022 were USD 27.6 billion, representing the fair value of total Firm assets held under management. Total Firm Net Assets represent the Total Firm Assets held under management less the fair value of liabiliti

TA Realty Core Property Fund ... I. TA Realty Overview II. Core Property Fund Overview III. ESG+R Overview ... TA Realty Overview ... Core Property Fund (Open-End)  $7.8 billion in current gross AUM1 ... Open-Ended Diversified Core ... (ODCE ... Q2 202 ... 15. ... since inception TWR ... Fund (Open ... End)  $ ... current gross AUM1 ... II. Core Property Fund Overview ... Core Property Fund Overview ...  Launched in 2018; Included in ODCE Index in 2020  Significant overweight to

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Staff memo on alternative assets consultant services at the June 17, 2026 board meeting. Covers update or extension of SCERS' alternative assets consulting agreement.

Townsend Group Q1 2026 real estate performance report. Portfolio 6.1% vs 8% target. Core +1.2% vs NFI-ODCE +1.0%. Non-Core -1.0% vs benchmark +1.3%. Top performers: FPA Core Plus Fund VI (+1.9%), Brookfield Premier RE Partners (+1.8%), Prologis Targeted U.S. Logistics Fund (+15.0%); Non-Core: Hammes Partners II (+2.9%), Sculptor RE Fund V (+5.9%). New Q1 2026 commitment: Blue Owl Real Estate Fund VII L.P. ($50M, counted toward 2025 budget).

Cliffwater quarterly performance review for SCERS alternative assets: Absolute Return (Q1 2026), Private Equity, Private Credit, and Real Assets (Q4 2025). Real Assets returned 1.4% in Q4 2025. Top real assets performer: Brookfield Super-Core Infrastructure (+2.4%). No new real assets commitments in Q4 2025 or Q1 2026. Total Real Assets net IRR since inception 10.13%.

Townsend Group's full real estate portfolio performance measurement report for Q1 2026 embedded in Item 19. Covers all SCERS core and non-core fund positions. Notable: Blue Owl Real Estate Fund VII L.P. ($50M new commitment in Q1 2026). Portfolio includes 9 core funds and ~17 non-core funds. Key positions: Brookfield Premier, FPA Core Plus Fund VI, Lion Properties (Clarion), MetLife Core Property Fund, Principal U.S. Property Account, Prologis European Logistics Fund, Prologis Targeted U.S. Logistics Fund, Townsend Core Real Estate Fund US, Townsend Real Estate Fund LP. Non-core: Asana Partners II/III, DRC European RE Debt Fund II, ECE European Prime Shopping Centre Fund II, Hammes Partners II/III/IV, NREP Nordic Strategies Funds II-V, Carlyle China Realty, Carlyle China Project Rome, CIM Fund VIII, FPA Apartment Opportunity Fund IX, KKR Real Estate Partners Americas, LaSalle China Logistics Venture, Sculptor RE Funds III-V, Seven Seas Japan, WCP NewCold III.

PSERS Investment Committee June 17, 2026 full meeting covering Capital Markets/Stress Test/Liquidity Update, GIPS reporting, General Consultant RFP Update, BNY Mellon motion, TPG Peppertree Fund XI-A motion, and PAI Mid-Market Fund II SCSp motion. Executive session includes confidential updates on certain private real estate holdings.

Jason Rothenberg (Head of Real Estate) presented the Q1 2026 RE Quarterly Activity Report. SWIB committed $40M to Bridge Logistics Value Fund II (Bridge Investment Group) in Q1 2026. Portfolio market value ~$11.9B (8.5% of CTF). Outperformance vs benchmark on 3-, 5-, 10-year periods.

NEPC quarterly real estate performance review for PA SERS as of December 31, 2025. Total real estate portfolio generated a net return of -0.2% for calendar year 2025. Presented at June 9, 2026 Investment Committee meeting. Includes performance vs NCREIF ODCE and C|A Non-Core benchmarks, market update, and investment-level performance.

SWIB committed $40M to Bridge Logistics Value Fund II (Bridge Investment Group) in Q1 2026 — a follow-on to the $110M commitment in Q4 2024. Fund targets acquisition, development and operation of logistics assets in key US gateway markets. Fund target $1B; raised $211.4M as of March 2026. Disclosed in June 2026 SWIB Board meeting materials.

Callan Associates quarterly peer performance report for SWIB as of March 31, 2026, embedded in the June 2026 Board of Trustees meeting materials. Includes CTF peer rank analysis and real estate asset class performance benchmarking.

Meketa Investment Group annual program review inclusive of quarterly real estate performance review for CalPERS as of March 31, 2026 (Item 6e Attachment 2, June 15 2026). 17 pages.

CalPERS Investment Committee agenda staff memo for Item 6e, June 15 2026. Covers the Real Estate Annual Program Review and introduces the open-session presentation (Att 1) and Meketa RE Update (Att 2). Presented by Sarah Corr, Stephen Gilmore.

CalPERS Investment Committee agenda staff memo for Item 6f, June 15 2026. Covers the Infrastructure Annual Program Review and introduces the open-session presentation (Att 1) and Meketa Infrastructure Update (Att 2). Presented by Sarah Corr, Stephen Gilmore.

CalPERS staff presentation for the Real Estate Annual Program Review as of March 31, 2026 (Item 6e Attachment 1, June 15 2026 meeting). 13-page deck covering RE program overview, market environment, performance and risk analyses, and key initiatives. Presented by Sarah Corr, Edward Yrure, Jane Delfendahl.

Meketa Investment Group annual program review inclusive of quarterly infrastructure performance review for CalPERS as of March 31, 2026 (Item 6f Attachment 2, June 15 2026). Infrastructure portfolio 1-year return 8.9%, outperforming benchmark by 6.0%. 13 pages.

Re: Realterm Europe Logistics Fund II, SCSp ... 21, 2025 RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) ... accepts the recommendation of the Investment Committee and commits an ... exceed €75 million, plus reasonable ... expenses, in Realterm Europe Logistics Fund II, SCSp and/or related investment ... Melissa A. Quackenbush, ... Senior Portfolio Manager and Aksia, LLC. ... The final terms and conditions ... are subject to legal due ... and must be satisfactory to ..

: LS Power Equity Partners VI ... that the Public School Employees’ Retirement Board (the “Board”) ... accepts the recommendation of the Investment Committee and commits an ... amount not to exceed $200 million, plus reasonable and normal investment expenses, in LS Power Equity Partners VI, L.P., and/or related investment vehicles in accordance with the recommendation of Cody Steele, Senior Portfolio Manager and Aksia, LLC. ... The final terms and conditions of the investment are subject to lega

Callan investment consultant quarterly performance review for Q1 2026 presented to the COPERS board June 4, 2026; includes real estate allocation (~10.7%) and NCREIF benchmarking.

Board meeting notice documenting Aksia's 2025 Real Estate Annual Review and Pacing Analysis and FY Second Quarter RE Performance Report, heard June 4, 2026.

Callan LLC quarterly real assets report for period ending March 31 2026, embedded in APERS June 2026 board packet. Core RE: Carlyle Property Investors 1.27%, Clarion Lion Industrial Trust 0.60%, Invesco Real Estate -0.12%, Heitman Real Estate Trust LP 1.74%, Principal Enhanced Property Fund 1.82%. Non-core RE: Harrison Street Fund VIII 6.65%, Harrison Street Fund IX 11.41%, Harrison Street Fund X 0.00% (newest vintage), Heitman Value Partners IV -0.05%, Heitman Value Partners VI -6.08%, LaSalle Income & Growth VI -3.98%, LaSalle Income & Growth VII 2.91%, TA Realty XII 0.06%, TA Realty XIII 0.15%. Blue Owl Digital Infrastructure III 19.21% 1-year. CBRE Global Infrastructure Fund 0.00% (new). JPM Infrastructure Investment Fund 3.33% (new). IFC Core Farmland Fund 0.00%. PGIM Agriculture 0.59%.

Stephens Capital Management presentation to APERS (dated May 26 2026) covering private markets program Q1 2026 update. Reports on Private Equity program: Dover Street XI LP (Q1 $16M called less $6.9M distribution = $9.03M net), HarbourVest Overflow, NB Arkansas PERS Fund of One ($11.25M called). Private Credit: HarbourVest Fund of One (Diversified Credit Funds) $550M committed/$34M called as of 12/31/2025; NB Eagle Debt Fund $200M committed/$80M called/$3.96M distributions as of 3/31/2026. Program in early development with zero non-accruals.

Ares Real Estate ... Ares U.S. Real Estate Opportunity Fund IV, L.P. (“AREOF IV”) ... | | 1 | | Launched in May 2022, AREOF IV is the fourth vintage in Ares Real Estate’s opportunistic series | ... | | | Fund Overview | AREOF IV is targeting in commitments and held its initial close in Q4 2022 $3.0 billion • 14 The Fund seeks to achieve a target net IRR of 15-17% • At this time, AREOF IV is targeting a final close on December 21st, 2023 • | ... | | 2 | Opportunistic | AREOF IV will follow an opp

Harrison Street adds three to core team — Exclusive Published: 04 May 2017 By: Meghan Morris The firm has hired Chip George from Deutsche Bank's Asset Management division, Colleen McMillin from Heitman and Ronald Miles from Equity Office. Harrison Street Real Estate Capital is expanding its core fund’s management team, PERE has learned. The Chicago-based firm hired three people to work on its open-ended core vehicle, Harrison Street Core Property Fund. ... Chip George is taking over as portfolio

NEPC's quarterly performance review for PSPRS as of March 31, 2026, presented to Board of Trustees (Neil Sheth and Rose Dean). Trust at $25.9B, 13.38% FYTD (rank 32nd percentile). PSPRS ex-Workout Real Estate Portfolio: 3-year 13.38%, 5-year 10.68%, 7-year 8.10% (rank 5th percentile), 10-year 8.83% (rank 16th percentile). RE vintage IRR spread analysis vs MSCI Private Comparables. Detailed market analysis including S&P 500 earnings forecasts, rate cut probabilities, and fixed income outlook. Neil Sheth presenting (new NEPC contact).

Meketa semi-annual private markets performance report for period ended December 31, 2025, covering real estate portfolio including Harrison Street Core Property, Invesco funds, PGIM RE US Debt, Stockbridge Value IV/V, and newly onboarded Clarion Alternative Sectors Fund.

Staff memo for June 2026 real estate manager annual reviews (INVESCO and Stockbridge reviews scheduled May 5, 2026); packet also includes semi-annual private markets performance report (Item 6.3) and Meketa Q1 2026 performance report.

Northern Trust private markets program report as of December 31 2025 presented at the May 26 2026 Board meeting. Real estate program note: Board adopted rebalance plan to rightsize PGIM US Debt and Prime Property Fund allocations and add Clarion Alternative Sectors Fund; rebalance expected to begin second half of 2026. PGIM debt provided excellent downside protection. Covers all current RE managers. Bundled in May 26 2026 board book.

Meketa private markets investment pacing review for 2026 presented at the May 26 2026 StanCERA Board meeting. Provides commitment tracking YTD 2026 and forward pacing projections for all private market asset classes. Real estate section covers ongoing rebalance including Clarion Alternative Sectors Fund build-out, right-sizing of PGIM US Debt position, and monitoring of Greenfield and Grandview (Artisan acquisition Watch status). Bundled in May 26 2026 board book.

ARA CORE PROPERTY FUND ... AMERICAN STRATEGIC VALUE REALTY FUND ... Presented by: Richelle Cook ... | American Realty Advisors ... information available at ... other disclosures at ... 11%-14 ... ARA CORE PROPERTY FUND Strong income and potential for long-term appreciation through investment in high-quality income oriented core office, industrial, retail, and residential properties located in major markets nationwide. ... AMERICAN STRATEGIC VALUE REALTY FUND Focuses on a value creation i

FIRM OVERVIEW ... 3 PRINCIPAL U.S. PROPERTY ACCOUNT ... 4 PRINCIPAL U.S. PROPERTY ACCOUNT APPENDIX ... 16 PRINCIPAL ENHANCED PROPERTY FUND ... 36 PRINCIPAL ENHANCED PROPERTY FUND APPENDIX ... 53 IMPORTANT INFORMATION ... 67 ... PRINCIPAL U.S. PROPERTY ... The Principal U.S. Property Separate Account is an open-end, commingled real estate account available to retirement plans meeting the requirements for qualification under Section 401(a) of the Internal Revenue Code of 1986 (“Code”), as amen

Verus total fund investment performance review for SCERS for Q1 2026. Covers all asset classes. Real estate portfolio at 6.1% vs 8% target.

STRS Ohio investment committee agenda package for May 2026 meeting covering April 2026 returns (+4.2%), rebalancing discussion; real estate allocation approximately 7.7% of $108.3B total portfolio.

ERS staff presentation to the Joint Board-IAC reviewing private real estate and infrastructure programs; $10% target allocation, externally managed via commingled funds, benchmarked to NCREIF-ODCE.

Founded a half-century ago in 1975, Bridgewater Associates is one of the world’s leading alternative investment managers, long recognized as a global leader for macroeconomic insights, innovative portfolio construction, and industry leading track records. Throughout our history, we have formed close partnerships with many of the world’s largest and most sophisticated institutional investors, providing tailored solutions to help them achieve their most ambitious goals. ... Founded by Ray Dalio in

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Albourne Partners real estate analytics supporting May 2026 fund presentations. Q4 2025 portfolio: Residential 35%, Industrial 27%, Office 11%, Retail 11%, Data Center 5%, other sectors. Total exposure including unfunded commitments: 10.8%. Manager roster reducing via concentration on existing relationships.