Fund Universe Library

Program Inception 2003 HL Relationship Inception 2007 Client Mandate Real Estate/Natural Resources Plan Size $17,660,113,311 Target Allocation RE: 8.0% / NR: 5.0% Current Allocation RE: 9.3% / NR: 8.1% PME Benchmark NCREIF Property Index/ CPI-U + 4% Client Reporting Currency USD ... | In $ millions | 4Q23 | 4Q24 | Change | | --- | --- | --- | --- | | Active Investments | 80 | 86 | 6 | | Exited Investments | 13 | 13 | - | | Active GPs | 32 | 35 | 3 | | Commitment | $4,862.9 | $5,186.9 | $324.0

Legacy Private Equity 2005 174.3 17.0 162.7 231.5 19.3 1.54 7.7 7.0 NB Fund of One 2017 383.3 83.9 239.2 57.0 382.2 1.84 17.9 10.2 Private Debt 2010 324.1 51.6 348.9 304.0 127.5 1.24 6.4 6.2 Real Estate 2007 279.7 37.5 274.1 220.8 123.5 1.26 6.1 4.4 Real Assets 2016 136.3 55.7 89.5 37.0 80.3 1.31 10.2 5.5 Venture Capital 2021 102.8 68.6 34.3 1.0 32.1 0.97 -2.3 5.9 Total 1,400.5 314.3 1,148.7 851.3 764.9 1.41 8.5 NA ... As of September 30, 2024, the Retirement System had committed $136.3 million

SWOLF HSAC RAEY-01  The table below displays the since-inception performance of active (non-liquidated) investments managed by diverse-owned and diverse led investment management firms in ... PA SERS real estate portfolio ... Data as of June 30, 2024. NEPC defines “diverse-owned” as a ... that’s at least 50% owned by an under-represented group and “diverse-led” as a firm that’s 33% to 50% owned by an under-represented group. The ... listed on this page are ... which NEPC has identified as diver

0 $127.7 $3 ... 1% 2 ... 0 $1 ... 8.1 $72.8 $ ... % 2 ... 0 $83.5 $198 ... 5 1 ... 0 $1 ... 2.4 $2 ... 6 $117.8 0.85 ... 7.3 ... % 2 ... $110 ... 0 $1 ... 0 $127 ... 5 1 ... % 2 ... 0 $164.8 $16 ... 3 $198.9 1.31x 9.27% 2 ... 0.0 $2 ... 5.9 $12.6 $ ... 37.4 0.98x -0.85% 2 ... $100.0 $138.1 $0.2 $109.5 0.8 ... 12.89% 2 ... IX $200.0 $143.1 $0.0 $137.0 0.96x -2.89% 20 ... Harrison Street Real Estate Partners IX $1 ... 0.0 $126.4 $44.3 $96 ... 0 1.11x 9.22% 20 ... Abacus Multi-Family Partners VI LP

Callan's performance measurement service may report on illiquid asset classes, including, but not limited to, private real estate, private

REAL ESTATE PORTFOLIO PERFORMANCE as of 06/30/2024. Source: The ... REAL ESTATE PORTFOLIO DIVERSIFICATION as of 06/30/2024. Source: The

San Diego County Employees. Retirement Association. Second Quarter 2024. Page 2. 1. Executive Summary. 3. 2. Total Public Equity. 18. 3. Total Fixed Income. 52.

Pennsylvania SERS: Total Real Estate Portfolio. N/A. 5.5%. 2.3%. 1.0%. -10.0 ... Investment Level. Performance as of June 30, 2024. Page 16. ACTIVE INVESTMENTS.

New Mexico Educational Retirement Board. Fourth Quarter Report 2024. Real Estate Portfolio Diversification. Prior Year %. Prior Year $. Current Year %. Vintage.

Wilshire, Quarterly Investment Report - The Retirement Board and Investment Advisory Committee received the Executive Summary – 4th Quarter 2023 from Wilshire Advisors in electronic format. Felicia Bennett provided an overview of economic and market conditions. Brian Bubrick then provided the Total Fund Overview and reported the Tacoma Employees’ Retirement System’s net-of-fee rates of return. Ali Kazemi presented further details of individual asset manager performance returns and attribution, a

March 31, 2026 The Honorable Detroit City Council Coleman A. Young Municipal Center 2 Woodward Avenue Detroit, MI 48226 Re: FY 2026-2035 Long-Term Forecast Report for Legacy Pension Plans and Debt Obligations Dear Honorable City Council Members: The Office of the Chief Financial Officer (OCFO) respectfully submits its annual Long-Term Forecast Report for Legacy Pension Plans and Debt Obligations. The OCFO also publishes this report on the City’s website. This report is provided in accordance wit

The real estate portfolio is managed to deliver risk-adjusted returns that are consistent with the long-term return expectations for the asset class.

7 4,0 ... 15 First Reserve Fund X, L ... Buyout - Mid 1 ... 15,591, ... 78 15,014,688 - 8/7/2015 First Reserve Fund XI, L ... Buyout - Mid 2 ... 7,000,000 7,001,067 - 12/20/2019 First Reserve Fund XII, L.P. Buyout - Mega 2006 10,0 ... 0,000 10,016,133 - 11/4/2016 Gasherbrum Fund II, L.P. Buyout - Mega 2008 12,024,418 12,867,735 6,756 12/31/2024 General Atlantic Investment Partners 2017, L.P. Buyout - Mid 2024 11,637,120 11,632,526 14,936,611 12/3 ... /202 ... General Atlantic Investment Partners

VPIC generated a net investment return of 10.7% in fiscal year 2025, above median among US public pension fund peers.

Quarterly Review ... Orange County Employees Retirement System ... First Quarter of 2025 ... Inception Date Total Portfolio 24,501,704,753 100.0 0.87 (26) 5.93 (30) 5.08 (15) 10.19 (42) 7.26 (23) 5.05 (100) Dec-88 ... Global Public Equity 10,698,262,288 43.7 -1.68 (56) 5.94 (39) 7.05 (35) 15.70 (33) 9.04 (34) 5.48 (99) Dec-88 ... .32 (31) 7.99 (2 ... 11.63 (22) 6 ... 34 (100) ... Russell 3000 -4.72 (47) 7.22 (24) 8.22 (27) 18.18 (29) 11.80 (21) 10.82 (46) ... BlackRock Russell 1000 6

Value-Add Real Estate Performance Analysis Net of Fees. ©2026 ... Value Add Real Estate Fund Comparison – Portfolio Exposures. Harrison

MEMORANDUM DATE: February 13, 2026 TO: California State Teachers’ Retirement System FROM: RCLCO Fund Advisors – Taylor Mammen, Ben Maslan, Erik Ctvrtlik, Ethan Michalowski, and Gavin Bramwit SUBJECT: Semi-Annual Open Session Report; As of September 30, 2025 INTRODUCTION RFA’s semi-annual report is as of Q3 2025. Goals and objectives that the semi-annual report evaluates include: a real estate ... allocation target of 15%; a net return that exceeds the NCREIF NFI-ODCE ... , a hedge against ... an

The following presentation provides an overview of performance and key drivers of. LACERA's Real Assets portfolio. The Real Assets and Inflation

Quarterly Investment Performance Reports. Investment Measurement Service-Quarterly Review-March 31, 2026 · Investment Measurement Service-Quarterly Review

Investment Performance Review March 31, 2026 ... Oklahoma Police Pension & Retirement System ... Tab 1 Market Overview Tab 2 Total Portfolio Summary Tab 3 Equity Tab 4 Fixed Income Tab 5 Real Assets Appendix Definitions of Statistical Measures Quality Rating Scale Historical Benchmark Composition © 2026 Asset Consulting Group All Rights Reserved ... Real Estate (1.95) ... Real Estate ( ... Real Estate (1. ... Real Estate (1.1 ... Real Assets NCREIF Property 0.00 0.00 3.62 -0.36 3.47 3.6

Investments The State of Michigan Investment Board is the investment fiduciary and custodian of all investments of the System pursuant to State law. The primary investment objective is to maximize the rate of return on the total investment portfolio, consistent with a high degree of prudence and sufficient diversity to eliminate inordinate risks and to meet the actuarial assumption for the investment rate of return. The investment activity for the year produced a total rate of return on the port

Performance Review and Market Summary Timothy Schlitzer, CFA, CRE, Director of Real Estate and Timberland began by discussing positioning within PRIM’s asset allocation. PRIM ended the year at 9.2%, or $10.2 billion, of PRIT in Real Estate and 2.9%, or $3.1 billion, in Timberland. Both asset classes are below their target mid-point but within range. Real Estate Mr. Schlitzer noted that the recently approved REIT managers invested the $300 million ($150 million each) commitment in April. Net pr

At the end of each fiscal year – June 30 – the ASRS calculates a rate of return on its investment portfolio. The assumed rate of return is 7.0 percent. ... The ASRS total fund returns - net of fees - for the fiscal year ending June 30, 2025 are as follows: ... --- | --- ... Investment Returns by Asset Class ... Annualized Net Rates of Return for fiscal year ending June 30, 2025. ... NCREIF ODCE Net 1 QTR lag (TWR) ... 2.84% ... 1.17% ... 1.67% ... -2.00% ... -5.07% ... 3.07% ... Asset Class

Portfolio Preliminary Performance Highlights. → March saw significant pullback across equity markets, with International Developed and broad Emerging

Review of Regular Meeting Minutes • Minutes of September 20, 2024 II. MERF Portfolio update as of August 31 and September 30 , 2024 III. Investment Consultant - NEPC ... • Executive Session - Equity Portfolio Review Follow up • Private Equity Performance QE 3.31.2024 • WorkPlan IV. Report on Annual Performance Review Meeting • ... AUGUST 31, 2024 Will DuPree, Senior Consultant Doug Moseley, Partner Jonovan Sackey, Sr. Investment Associate MONTHLY PERFORMANCE REPORT CITY OF HARTFORD MUNICIPAL

The Plan’s overall performance will be compared to the return of a ... over rolling three (3) and five ( ... periods. The policy index is constructed using the Plan’s target asset class allocations and market indices representing those asset classes (see Appendix A ... 2. On a relative basis, it is expected that the total portfolio performance will rank in the top 50th percentile of the appropriate peer universe over three (3) and five (5) year time periods. ... 3. On an absolute basis, the o

During the same period, StepStone advised to the private equity and real estate portfolio, with market values of $900M and $2.7B, respectively. While not

North American real estate ... Border to Coast Pensions Partnership has added a new manager to its Global Value-Add Real Estate fund. ... The organisation – which pools the assets of 11 Local Government Pension Scheme (LGPS) funds – has allocated $90m (£67m) Heitman’s North American real estate strategy. ... Through Heitman, Border to Coast, which has more than £55bn in assets under management, will gain exposure to a range of “non-traditional” real estate sectors, including self-storage, senior

City of Sanford Firefighters Pension ... SFFRS Dahab Report 03-31-21 ... SFFRS Dahab Report 12-31-21 ... SFFRS Dahab Report 03-31-22 ... SFFRS Dahab Report 06-30-22 ... SFFRS Dahab Report 09-30-22 ... SFFRS Dahab Report 03-31-23 ... SFFRS Dahab Report 03-31-24 ... SFFRS Dahab Report 03-31-25 ... SFFRS Dahab Report 06-30-23 ... SFFRS Dahab Report 09-30-23 ... SFFRS Dahab Report 09-30-23 ... SFFRS Dahab Report 09-30-24 ... SFFRS Dahab Report 12-31-23 ... SFFRS Dahab Report 12-31-24 ... SFFRS Da

Retirement Funds Investment Activity ... Report 26-05 | June 2026 ... The State of Wisconsin Investment Board (SWIB) invests assets for the Wisconsin Retirement System (WRS) that are held in the Core Retirement Investment Trust Fund (Core Fund) and the Variable Retirement Investment Trust Fund (Variable Fund). Together, these funds are known as the Retirement Funds. ... We provided unmodified opinions on the financial statements and related notes of the Retirement Funds investment activity as

Real Estate Guidelines The investment goal of the real estate investments is to offer the State Insurance Fund a broad exposure to the return opportunities, portfolio diversification effects, inflation protection features and investment characteristics associated with the institutional quality US commercial real estate market. Eligible real estate investments will consist of US concentrated private open-end Core real estate funds, US concentrated private open-end and closed-end Core Plus real es

2025-2026 ... KANSAS PUBLIC EMPLOYEES RETIREMENT SYSTEM BUDGET REPORT 5 ... 233 ... Agency Wide Overview of FY 2025 and FY 2026 Budget Information ... Investment expense projections are developed by projecting the current market value of the portfolio will grow from the value on June 30, 2024, by the net of the System's 7.0% actuarial ... investment return assumption less benefit, investment and administrative expenses. Manager fee estimates are regularly updated to reflect the ... 's actual inv

In fiscal year 2025, the Board of Investments (board) created a new internal investment pool: the Real Estate Investment Service (REIS). The pool is designed to manage legislatively mandated real estate direct investments within the state. As of June 30, 2025, the pool had total assets of just over $13,000,000. Table 1 below shows the breakdown of the pool’s assets. The Investments at Fair Value amount comprises the Pintler Meadows ... housing shortage for employees of the Montana State Prison a

Real Estate 9.7 1.6 0.2 9.7 0.9 0.1 0.00 0.06 0.00 0.06 ... Real Estate 9.5 3.0 0.3 9.5 3.1 0.3 0.00 0.00 0.00 0.00 ... Absolute Return 5.5% Cash 1.4% Credit 9.1% ... Real Assets 14.7% ... Rate Sensitive 16.2% Multi Asset 0.4% ... Performance Summary | As of June 30, 2025 ... Asset Allocation | As of June 30, 2025 ... Asset Class Performance Summary Market Value ($) ... Total System 73,593,894,881 100.0 4.8 6.5 9.8 6.6 8.3 7.0 7.9 Jul-86 ... 7.6 -- ... 6.9 ... Global Equity 2,931,032,849 4.0 14.

- SCERS has a target real estate allocation of 9% with an allowable range of 7.0%-11.0%. As of the end of the second quarter, 2024 (the “Quarter”), the Real Estate Portfolio was below the real estate target and below the allowable range at 6.6%. While the real estate allocation at 6.6% is less than the 7% minimum, we note that 1.2% of capital is undrawn as of the second quarter. As noted in the past, it is likely not all capital will be drawn, but SCERS is constantly evaluating new investment op

31 %6 ... 61 %7.91 %2.51 %9.01 xednI 005 P&S A/N %8.6 %3.6 %6.1- %1.1 %5.2 3xednI etatsE laeR eroC-noN A|C A/N %2.5 %7.3 %8.2- %2 ... 4 %5.2 2xednI ... treporP FIERCN ... | tnemelpmi ot eciffO tnemt ... vnI SRES ... eht hti ... krow ot eunitnoc lliw ... boj s’regan ... eht si tI ... etavirp rof secit ... es lliw ... eht rof nal ... neve ,gnicap ... nerruc eht no ... Data as of June 30, 2025. Performance metrics calculated by NEPC based on data provided by the investment managers. ... Data as of

,751,678,233 Target Allocation RE ... 8.0% / NR: 5.0% Current Allocation RE: 9.5% / NR: 8.3% P ... IF Property Index/ CPI ... U + 4% ... | In $ millions | 4Q24 | 1Q25 | Change | | --- | --- | --- | --- | | Active Investments | 86 | 87 | 1 | | Exited Investments | 13 | 13 | - | | Active GPs | 35 | 36 | 1 | | Commitment | $5,187.1 | $5,241.1 | $54.0 | | Unfunded | $1,244.0 | $1,227.9 | ($16.1) | | Contributions | $5,082.6 | $5,169.7 | $87.1 | | Distributions | $4,050.9 | $4,101.7 | $50.8 | | NAV

This report has been prepared by Segal to present a valuation of The Water and Power Employees’ Retirement Plan of the City of Los Angeles (“the Plan”) as of July 1, 2025. The ... to determine whether the assets and contribution rates ... sufficient to provide the ... 4. The rate of return on the market value of assets was 10.76% for the year ending June 30, 2025. The return on the actuarial ... • Total actuarial accrued liability $18,814,378,834 $18,026,936,825 – Retired members and beneficiari

Executive Summary | As of December 31, 2024 ... → The San Diego City Employees’ Retirement System (“SDCERS”) private real estate portfolio had a net asset value (“NAV”) of $1,128.9 million; equal to 9.5% of the total plan, which is within the Tactical Allocation Range of 6% to 16%, and below the 11.0% Target. ... Summary | As of December ... → The San Diego City Employees ... Retirement System (“SDCERS”) private real estate debt portfolio had a net asset value ... NAV”) of ... 127.5 ... ; equal

ate Real Estate/Natural ... ,751,678,233 Target Allocation RE ... 8.0% / NR: 5.0% Current Allocation RE: 9.5% / NR: 8.3% P ... | In $ millions | 4Q24 | 1Q25 | Change | | --- | --- | --- | --- | | Active Investments | 86 | 87 | 1 | | Exited Investments | 13 | 13 | - | | Active GPs | 35 | 36 | 1 | | Commitment | $5,187.1 | $5,241.1 | $54.0 | | Unfunded | $1,244.0 | $1,227.9 | ($16.1) | | Contributions | $5,082.6 | $5,169.7 | $87.1 | | Distributions | $4,050.9 | $4,101.7 | $50.8 | | NAV | $3,069.9

SBA Major Mandate Performance Official Performance Through: December 31, 2024 ... Real Estate 0.23% -1.00% -5.83% -0.54% 3.36% 6.05% ... Real Estate 0.20% -1.09% 1.96% 0.93% 1.38% 0.94% ... Florida PRIME Managed Return 0. ... % 1.1 ... %] 5.4 ... % 4.22% 2 ... 69% 2.00% ... Real Estate Managed Return ... INVESTMENT ADVISORY COUNCIL Item 3. Real Estate Asset Class Review ... Administration March 3, 2025 ... INVESTMENT ADVISORY COUNCIL ... Real Estate Asset Class Update ... Lynne Gray, Senior Inve

With respect to investment experience for the fiscal year ending June 30, 2025, measured on a Market Value of Assets (MVA) basis, MainePERS experienced an investment return of positive 9.31%. This is more than the assumed rate of return assumption of 6.50%. Given the asset smoothing method in place, only one-third of that gain is recognized in the Actuarial Value of Assets (AVA). As a result, the AVA investment return for MainePERS was 7.96%. For this Program, when compared to the expected AVA u

Client Mandate Real Estate/Natural Resources Plan Size $17,751,678,233 Target Allocation RE ... 8.0% / NR: 5.0% Current Allocation RE: 9.5% / NR: 8.3% PME Benchmark NCREIF Property Index/ CPI ... U + 4% Client Reporting Currency USD ... | In $ millions | 4Q24 | 1Q25 | Change | | --- | --- | --- | --- | | Active Investments | 86 | 87 | 1 | | Exited Investments | 13 | 13 | - | | Active GPs | 35 | 36 | 1 | | Commitment | $5,187.1 | $5,241.1 | $54.0 | | Unfunded | $1,244.0 | $1,227.9 | ($16.1) | | C

A/N %6.31 %6 ... 61 %7.91 %2.51 %9.01 xednI 005 P&S A/N %8.6 %3.6 %6.1- %1.1 %5.2 3xednI etatsE laeR eroC-noN A|C A/N %2.5 %7.3 %8.2- %2.4 %5.2 2xednI ytreporP FIERCN ... %4.4 %5.2 %2.6- %7.2 %7.1 1xednI ECDO-IFN :kramhcneB yciloP %7.6 %7 ... 1 %7.0 %0.8- %8.0- %9.1 oiloftroP etatsE laeR lato ... :SRES ainavlysnneP noitpecnI raeY 01 raeY 5 raeY 3 raeY 1 DTY ecnamrofreP oiloftroP ... nemelpmi ot eciffO tnemt ... Data as of June 30, 2025. Performance metrics calculated by NEPC based on data provid