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Public-record fund presentations, plus the staff memos and consultant reports that accompany them in public pension and endowment board materials. Filter by document type, sector or location. Every link points to the official source.
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See plans2,390 documents·904 GP·686 LP·800 consultant
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IAC-endorsed private markets commitment recommendations for the February 25, 2025 IAC meeting, presented to the SBI Board at its March 21, 2025 meeting for approval.
Gloria Gil (Senior Investment Officer, Real Estate), Chris Ebersole, Austin Carmichael (Investment Officers), and Christy Fields (Meketa) presented the Real Estate Annual Review & 2025 Plan at the April 16, 2025 OIC meeting (TAB 5). Detailed manager roster including RREEF America II, Prologis European Logistics Fund, JP Morgan Strategic Property Fund, ASB Allegiance, Morgan Stanley Prime Property, Heitman America REIT, Harrison Street Core Property, Nuveen U.S. Cities Multifamily & Industrial, AEW Core, GID Mainstay, Walton Street Core-Plus. New commitments included Hammes Income & Growth Healthcare Fund ($110M), Sculptor Real Estate Fund V ($100M), Harrison Street European Core Fund ($110M), LBA Logistics Value Fund X ($100M), LBA Core Industrial SA ($100M). Total 2024 commitments: $520M.
Staff presentation by Michael Langdon (Director of Private Markets), Austin Carmichael, Christopher Ebersole, and Sam Spencer (Investment Officers, Real Estate) with consultant Christy Fields (Meketa). Covered 2022 commitments ($1.75B across 9 investments), portfolio performance vs. NFI-ODCE+50bps benchmark.
IAC-endorsed private markets commitment recommendations for the November 19, 2024 IAC meeting, presented to the SBI Board at its December 10, 2024 meeting for approval. Specific real estate fund details are in the full meeting book.
ERSRI staff recommendation memo approving up to $20M commitment to Elion Industrial Fund II, a value-add last-mile logistics industrial fund targeting 40–50 supply-constrained infill properties. Meeting date February 28, 2024.
Meketa Investment Group presented the OPERF Q1 2024 Performance Review at the May 29, 2024 OIC meeting (TAB 4). Real Estate was the only asset class with negative contribution; total RE portfolio returned -4.7% trailing 1-year. ABKB-LaSalle Advisors REIT sleeve also covered. Real estate assets were noted as continuing to underperform other asset classes in higher rate environment.
IAC-endorsed private markets recommendation for the August 2024 cycle, covering up to $100M to Blackstone Real Estate Partners Asia III (BREP Asia III), investing across China, India, Japan, and Australia.
Staff recommendation to extend the Real Assets Portfolio consultant contract with Aksia (originally approved at a prior meeting) through 2025. Presented at the September 6, 2023 OIC meeting as TAB 3.
Meketa Investment Group due-diligence summary memo on SROA Capital Fund IX for ERSRI's non-core real estate allocation. Dated September 2024.
ERSRI staff recommendation memo approving up to $30M commitment to Raith Real Estate Fund IV, a diversified opportunistic closed-end fund targeting deep value commercial and residential real estate including industrial, multifamily, and niche property types. Meeting date March 26, 2025.
ERSRI staff recommendation memo approving up to $20M commitment to Belveron Partners Fund VII, a value-add closed-end fund focused on 'Capital A' regulated affordable housing (Section 8 and deed-restricted properties) across the U.S. Meeting date August 28, 2024.
The April 16, 2025 OIC Real Estate Annual Review documents 2024 commitments to LBA Logistics Value Fund X ($100M value-add domestic industrial, unfunded) and LBA Core Industrial Separate Account ($100M core domestic industrial, unfunded). LBA is a top-10 OPERF real estate manager with $757M NAV. Disclosed as part of the 2024 new commitments table in the 2025 Annual Review.
ERSRI staff recommendation memo approving up to $25M commitment to Greystar Essential Housing Fund I, a value-add/opportunistic multifamily development fund targeting attainable housing for residents at 70–90% AMI. Meeting date February 26, 2025.
Ventas manager presentation for Rhode Island SIC on the Ventas Life Science and Healthcare Real Estate Fund, a core/core+ open-end fund targeting life science, medical office, and seniors housing assets in top U.S. cluster markets.
Comprehensive portfolio performance report as of March 31, 2025, covering all asset classes including private markets real estate and real assets. Includes returns, benchmark comparisons, and program-level overview.
Ben Mahon (Senior Investment Officer, Real Assets), Melissa Grant and Michael Brand (Directors, Co-Heads Real Assets, Aksia) presented the Real Assets Portfolio Annual Review at the April 16, 2025 OIC meeting (TAB 4). CY 2024 commitments: $775M across six approvals including Harrison Street co-invest top-off ($50M, Infrastructure). Real Assets returned +3.7% vs. benchmark over 1-year. Top managers: Global Infrastructure Management, Warwick Investment Group, Blackstone Group, Harrison Street Advisors.
Tad Fergusson (Director of Private Markets), Gloria Gil (Senior Investment Officer, Real Estate), Austin Carmichael, and Chris Ebersole (Investment Officers) presented the Real Estate Annual Review & 2026 Plan at the May 27, 2026 OIC meeting (TAB 4). Portfolio: $13.7B total (71% Core, 27% Non-Core, 2% REITs). Top managers: Lincoln Advisors ($2.3B), GID ($1.8B), Ascentris ($874M), Harrison Street ($825M), LBA ($757M), Prologis ($697M), Clarion ($674M), Regency ($662M), Abacus ($604M), DivcoWest ($483M). 2025 commitments: $417M across Abacus Multi-Family Partners VII ($100M), Clarion Alternative Sectors Fund ($100M EUR), Blue Owl RE Fund VII ($100M), Hines European Property Partners ($117M). 2026 plan: $400M–$750M new commitments. Outperformed NFI-ODCE+50bps across all time periods.
Meketa Investment Group and Aon presented the 2026 Capital Market Assumptions at the March 4, 2026 OIC meeting. Detailed real estate return assumptions: Core RE 3.5% real return (higher than 2022), Non-Core RE 5.3%, U.S. REITs 4.1%. Open-End Real Assets 4.9%, Closed-End Real Assets 6.7%. Noted that 2026 reflects higher forward-looking allocation to Core Real Estate and Core Infrastructure.
Ben Mahon (Senior Investment Officer, Alternatives) and Tom Martin (Partner, Global Head of Private Equity and Real Assets, Aksia) presented the OPERF Real Assets Portfolio Annual Review at the April 19, 2023 OIC meeting. Covered portfolio overview, performance vs. CPI+4% objective, and forward plan. Blackstone Group was among top holdings ($437.4M).
Gloria Gil (Senior Investment Officer, Real Estate), Austin Carmichael, and Philip Chris Ebersole (Investment Officers) with Christy Fields (Meketa) presented the Real Estate Annual Review & 2024 Plan at the March 6, 2024 OIC meeting (TAB 5). Covered open-end core portfolio (Heitman America REIT, Harrison Street Core Property Fund, Prologis Targeted US Logistics Fund, Nuveen U.S. Cities Multifamily, AEW Core Property Trust, GID Mainstay, Walton Street, Sculptor Diversified RE Income Trust), separate account portfolio (Clarion, Lincoln, Regency, Lionstone, Waterton, Ascentris, LBA Industrial, Harrison Street Life Science Core). 2024 plan: $500M–$1B in new commitments.
Tim Wang, Managing Director and Head of Research at Clarion Partners, presented the OPERF real estate market update at the March 8, 2023 OIC meeting. Covered macro conditions, sector outlooks, and capital markets. Bundled in the public board book as TAB 3.
Meketa Investment Group presented the OPERF Q3 2024 Performance Review at the December 4, 2024 OIC meeting. Real Estate: $13.2B (manager selection contributed to relative returns; overweight Policy marginally detracted). Real Assets: $10.0B outperformed benchmark. Real estate assets noted as continuing to underperform amid higher rate environment.
The January 24, 2024 OIC meeting minutes document a Real Estate Committee approval of a $150M USD commitment to Carlyle Property Investors on November 13, 2023. Disclosed in the Committee Reports section of the January 2024 board book.
Meketa presented the OPERF Annual Review at the October 25, 2023 OIC meeting. Performance as of June 30, 2023: Total RE portfolio $13.6B returned -3.4% over 1-year, +8.9% over 3-year (vs. +6.69% NFI-ODCE+50bps benchmark). Non-Core portfolio outperformed; ABKB-LaSalle REIT sleeve returned +2.1% QTD. Detailed manager-level performance tables included.
The 2024 Opportunity Portfolio Annual Review (TAB 3, March 5, 2025 OIC meeting) discloses OPERF's evergreen commitment to Fidelity Real Estate Opportunistic Income Fund (vintaged 2010, equity-diversified, $337.5M current NAV, $200M commitment). Part of the Niche tier of the Opportunity Portfolio's real estate diversified holdings.
Meketa Investment Group presented the OPERF Performance Review at the May 27, 2026 OIC meeting (TAB 3). As of March 31, 2026: Total Real Estate portfolio contributed +0.5% to absolute returns; Real Assets +1.1%. Real Estate and Private Equity noted as primary detractors to relative performance over trailing 1-year. ABKB-LaSalle Advisors REIT sleeve +8.5% (1-year).
Meketa Investment Group due-diligence summary memo on Elion Industrial Fund II for ERSRI's non-core real estate allocation. Dated February 2024.
The October 22, 2025 OIC meeting minutes document an OST Investment Committee approval (Common School Fund commitment on June 20, 2025: $10M USD) to Abacus Multi-Family Partners VII, L.P. Abacus is a top-10 OPERF real estate manager with $604M in market value. Disclosed in the Committee Reports section.
The October 23, 2024 OIC meeting minutes document an OST Investment Committee approval (June 20, 2024) of a $100M USD commitment to Hammes Income & Growth Healthcare Fund, L.P. from OPERF. Medical office/healthcare core strategy. Disclosed in the Committee Reports section.
ERSRI staff recommendation memo approving up to $20M commitment to Greystar Equity Partners XI, a value-add closed-end multifamily fund targeting Class A and B properties broadly diversified across U.S. gateway and growth markets. Meeting date March 22, 2023.
Meketa Investment Group presented the OPERF Q3 2025 Performance Review at the December 3, 2025 OIC meeting. As of September 30, 2025: Real Estate $13.4B (2.8% 1-year return). Real Assets portfolio noted. Includes fixed income annual review and diversifying strategies annual review components.
Meketa Investment Group presented the OPERF Q1 2025 Performance Review at the September 3, 2025 OIC meeting (TAB 4). As of June 30, 2025: Total Real Estate $13.4B (positive absolute and benchmark-relative returns). Real Assets: $5.0B (strong performance through manager selection and overweight allocation). ABKB-LaSalle Advisors REIT sleeve: 13.5% 1-year return.
Meketa Investment Group due-diligence summary memo on MCR Hospitality Fund IV for ERSRI's non-core real estate allocation. Dated January 2024.
Paola Nealon, Sarah Bernstein, and Allan Emkin (Meketa) presented the OPERF 2024 Performance Review at the March 5, 2025 OIC meeting (TAB 4). Includes real estate performance data: Total RE portfolio $13.5B, Real Assets $10.0B. Real estate outperformed benchmark; REIT portfolio experienced significant rebound in 2024. Real Assets were positive for Q4 (+2.5%). Opportunity Portfolio also reviewed including Blue Owl/Blackstone TAO components.
The October 23, 2024 OIC meeting minutes document an OST Investment Committee approval (July 24, 2024) of a commitment to Harrison Street European Core Fund SCSP SICAV-RAIF from OPERF. Amount listed as $150M USD in the committee report. Disclosed in the Committee Reports section.
ERSRI staff recommendation memo approving up to $15M commitment to IPI Partners III, a value-add/opportunistic data center fund focused on hyperscale data centers globally via IPI's STACK development platform. Meeting date August 23, 2023.
ERSRI staff recommendation memo approving up to $15M commitment to MCR Hospitality Fund IV, a value-add hotel fund targeting 60–75 premium branded limited-service and extended-stay hotels. Meeting date January 24, 2024.
Meketa Investment Group 2024 private real estate pacing plan and portfolio review for ERSRI, covering core and non-core real estate allocation targets, commitment pacing across value-add/opportunistic closed-end funds. Dated February 2024, presented March 27, 2024.
Belveron Partners investor presentation for ERSRI on Fund VII, a value-add fund targeting acquisition and preservation of regulated 'Capital A' affordable housing including Project Based Section 8 properties.
Meketa Investment Group presented the 2025 Capital Market Assumptions at the April 16, 2025 OIC meeting (TAB 3). Included detailed real estate return assumptions: Core Real Estate 5.3% expected return, Non-Core Real Estate 6.9%, High Yield RE Debt. Also includes discussion of real estate valuations improving and cap rate trends for 2024.
SROA Capital company overview presentation for Rhode Island on Fund IX, a value-add self-storage fund. Public deck dated September 2024.
CBRE Investment Management fund presentation for Rhode Island SIC on U.S. Logistics Partners (USLP), a core+ open-end fund targeting newly built modern logistics facilities with sustainable amenities across U.S. coastal and major markets. Public deck.
ERSRI staff recommendation memo approving up to $15M commitment to SROA Capital Fund IX, a value-add self-storage fund targeting acquisition of institutional and non-institutional self-storage properties across the U.S. Meeting date October 2, 2024.
Staff recommendation (Action Item) presented by Michael Langdon to extend the Real Estate Portfolio consultant contract with Meketa Investment Group for two additional years (through June 30, 2025). Original contract approved April 22, 2020. Bundled in the May 31, 2023 public board book as TAB 8.
Meketa Investment Group due-diligence summary memo on Greystar Equity Partners XI for ERSRI's non-core real estate allocation. Dated March 2023.
Ben Mahon (Senior Investment Officer, Real Assets) and Aksia consultants presented the Real Assets Portfolio Annual Review & 2024 Plan at the March 6, 2024 OIC meeting (TAB 6). Covered portfolio positioning, performance vs. CPI+4%, infrastructure and natural resources exposure, and 2024 pacing plan of ~$1.75B in commitments.
ERSRI staff recommendation memo approving up to $25M commitment to CBRE U.S. Logistics Partners (CBRE USLP), a core/core+ open-end industrial logistics fund targeting modern distribution, fulfillment, and intermodal properties in U.S. coastal and major population centers. Meeting date December 4, 2024.
Raith Capital Partners public presentation for Rhode Island on Real Estate Fund IV, a diversified opportunistic fund targeting distressed and complex commercial and residential real estate in the U.S. Public deck.