Document library

Delegated investment report disclosing $75M commitment to Stockbridge Value Fund V (value-add real estate), closed April 18, 2023.

BAM's full investment strategy overview covering BERS history, governance, asset allocation, and private markets manager selection; discusses real assets parking places and pacing targets for real estate and infrastructure.

ICM packet for April 12 2023 containing Callan's ACERA Real Estate Investment Plan (2023–2024), including portfolio composition, performance attribution, pacing study, and investment recommendations. Callan recommended increasing core real estate commitments of approximately $150 million before end of 2024, plus continued non-core (value-add and opportunistic) commitments. Also reveals prior commitments to Artemis Healthcare Fund II ($25M), CBRE Value Fund 9, and Starwood Fund XII ($40M).

Meketa quarterly performance update covering all asset classes including real estate allocation vs. targets for COPERS as of March 31, 2023.

RVK full due diligence recommendation report for Hammes Partners Income & Growth Healthcare Fund (HIGH), recommending a $30M commitment to the open-end medical office core-plus real estate strategy. Reviews the vertically integrated Hammes platform and healthcare real estate market opportunity.

NEPC's 2023 annual capital markets assumptions presented to PSPRS Investment Committee. Covers 10-year and 30-year return forecasts for 70+ asset classes using building-block methodology. For real estate: Core 8.83% (10yr), Non-Core 4.00%, Private Debt RE 5.8%. Includes full asset allocation review for PSPRS with real estate at 11% target and discussion of real estate/real assets strategic outlook. Data as of 12/31/2022.

CIO Bachher proposes $2B internally managed campus real estate program investing in student/staff/faculty housing near UC campuses.

StepStone real estate Q3 2022 quarterly report embedded in NYCERS March 2023 investment meeting agenda book; shows portfolio profile, new commitments (EQT Exeter Industrial Value Fund VI, EQT Exeter Industrial Core-Plus Fund IV), and performance.

Meketa Investment Group semi-annual real estate performance review for CalPERS for the period ended December 31, 2022 (Item 6c Attachment 4, March 13 2023). Covers portfolio returns, sector and geographic allocation, leverage policy compliance, and market commentary. 12 pages.

CalPERS Investment Committee agenda staff memo for Item 6c, March 13 2023. Trust Level Review Consultant Report introducing Wilshire and Meketa semi-annual program reviews. Meketa RE Semi-Annual Review (Dec 31 2022) is Attachment 4; Meketa Infrastructure is Attachment 5.

Albourne presented inaugural Infrastructure, Natural Resources, and Real Estate quarterly review covering capital budgeting, pacing, market commentary, and performance as of September 30, 2022.

ICM packet for March 8 2023 at which a $10 million investment in Eclipse Fund V (private equity / real estate-adjacent tech fund) was discussed as a potential addition to ACERA's private equity portfolio. Presenters: Lior Susan of Eclipse Fund V and Faraz Shooshani of Verus. The packet also contains the GIC RFP status update, quarterly investment financials showing real estate at $773–830M range, and rebalancing activity summaries.

Board voted to approve up to $600M commitment to CBRE U.S. Core Partners Fund, an open-end core real estate fund focusing on logistics, residential, and growth sectors in the US.

NYC Police Pension Fund March 2023 meeting package including Townsend Group real estate Q3 2022 quarterly report; portfolio targets 7% (+/-2%) to real estate vs NFI-ODCE+100bps benchmark; lists LaSalle Property Fund, Heitman HART, Blackstone, TPG, Carlyle, and other active fund holdings.

Board approval page for the March 2, 2023 SBI meeting confirming authorization of up to $200M to TA Realty Associates XIII and up to $100M to AG Asia Realty Fund V. Also includes policy decision expanding private markets allocation range.

GP presentation for TA Realty Associates XIII, a U.S. value-add fund targeting industrial, multifamily, office, and grocery-anchored shopping centers. Minnesota SBI considered a commitment of up to $200M, approved at the March 2, 2023 board meeting.

Staff and RVK recommendation memo for a $30M commitment to Hammes Partners Income & Growth Healthcare Fund (HIGH), an open-end core-plus medical office fund. Includes analysis of VPIC's core real estate portfolio rebalancing away from office exposure.

Meketa Investment Group due-diligence summary memo on Ventas Life Science and Healthcare Real Estate Fund (VLSHREF), evaluating the core+ open-end vehicle for ERSRI's core real estate allocation. Dated February 22, 2023.

IAC staff recommendation memo for the February 21, 2023 meeting endorsing commitments of up to $200M to TA Realty Associates XIII (U.S. value-add industrial/multifamily/office/grocery-anchored retail) and up to $100M to AG Asia Realty Fund V (Asia opportunistic).

Board action approving up to $15M commitment to High Street Real Estate Fund VII Venture at February 9, 2023 meeting; ORG served as RE consultant.

ICM packet for February 8 2023 containing Verus Advisory's Real Assets Investment Plan for ACERA, presented by John Nicolini of Verus, covering infrastructure and natural resources pacing, capital market assumptions, and 10-year commitment projections. Also includes Verus's updated private equity investment plan and a proposed new manager structure for ACERA's international equity asset class.

Board voted to approve up to $600M commitment to Clarion Lion Properties Fund, an open-end core real estate fund focusing on industrial, multifamily, office, retail, and life sciences in the US.

Investment Committee agenda for Feb 6 2023 recommending commitment to Longpoint Fund III, L.P., a value-add real estate fund managed by Longpoint Realty Partners.

NJ Division of Investment staff presentation to the State Investment Council covering Fiscal Year 2022 performance, asset allocation, capital market returns, and program updates including progress on the private markets emerging managers program (real estate second sleeve under development). Presented at the January 25, 2023 annual meeting.

NJ Division of Investment quarterly Director's Report and investment reporting package presented to the State Investment Council at the January 25, 2023 regular meeting, covering capital markets update, pension fund performance, asset allocation, and RE/RA portfolio detail through the reporting period.

RVK annual non-core real estate pacing study for VPIC recommending $60M/year in commitments over 2023-2027 to reach the 4% non-core real estate target. Reviews existing portfolio including Hammes Fund IV and Angelo Gordon Fund XI.

Staff memo disclosing UC Investments' $4B strategic investment in Blackstone Real Estate Income Trust (BREIT); CIO discusses 11.25% minimum return target.

ICM packet for January 11 2023 containing Callan's semiannual real estate portfolio review for the period ending June 30 2022, presented by Avery Robinson of Callan LLC. Covers ACERA's real estate portfolio returns, market conditions, sector and manager diversification. Also includes Verus private equity and real assets performance reviews for the same period.

Board of Retirement staff report (File 22-491.1) recommending approval of the 2023 Real Estate Pacing Plan; targets up to $100M in RE commitments split between core (including RE debt) and non-core strategies.

Complete asset listing as of March 31, 2023 including all real estate and real assets investments with book and fair values.

Results • Holdings • News Releases • Quarterly ... --- | --- | --- | --- ... return on investments (%) ... goal of 4% (plus inflation ... 17.6 4.7 20 ... billions) (% of ... ) ($ billions) | 0 -2 (1.5) -4 8.5 20 ... 3 (% of total) | ... | | Bonds Publicly traded stocks Private equities Real estate and infrastructure Cash Money market securities | 30.2 42.9% 31.0 30.1 42.7% 15.6 1.8 2.5% 0.7 1.0% 7.5 10.6% 0.2 0.3% | 55.8% 28.0% 1.5 2.7% 0.3 0.6% 7.1 12.8% 0.1 0.1% | ... In our opinion, publicl

Fiscal 2025 performance ... Investment departments all contribute to fiscal 2025 performance ... .5B ... 7.2% ... $ ... 1B 8 ... 7% ... $0 ... 8B N/ ... CAPITAL MARK ... & FACTOR INVESTING $1.2B N/A* CRED ... $ ... .5% ... Multi-asset class platform ... FIVE-YEAR ANNUALIZED NET RETURNS BY ASSET CLASS As at March 31, 2025 ... Government Bonds 15% Public ... 9% ... ities 29 ... Credit 11% ... Real Estate 7% Public Equities 29% ... Credit Real Estate ... We have transitioned to as

Investment Funds LPPI operates investment pooling vehicles across seven asset classes. These are housed within two Authorised Contractual Schemes (ACS) and a number of special pooling vehicles. Further details are available in the statements of accounts for the LPPI Asset Pooling ACS and the LPPI Real Estate ACS available from the LPP website. Details on the investment pooling vehicles are available from Companies House. Further information on the LPPI pooled funds can be found on the 'Our funds

FOURTH QUARTER 2015 ... - The following slides provide a review of key information of the Los Angeles City Employees’ Retirement System (“LACERS”) Real Estate Portfolio (the “Portfolio”) through December 31, 2015. A detailed performance report is also provided as Exhibit A. - The System is slightly above its 5.0% target to Real Estate. | | Market Value ($ millions)* | % LACERS Plan | | --- | --- | --- | | LACERS Total Plan Assets | 13,962 | | | Real Estate Target | 698 | 5.0% | | RE Market V

On this page, you can review water companies’ annual financial and operating returns filed with the Department of Public Utilities as required by G.L. c. 165, sec. 2 and G.L. c. 164. Companies are listed in alphabetical order. ... - 2024 - annual return - 2023 - annual return - 2022 - annual return - 2021 - annual return - 2020 - annual return - 2019 - annual return - 2018 - annual return revised - 2018 - annual return - 2017 - annual return revised - 2017 - annual return - 2016 - annual return

a. Executive Director Report (Information) Presented By: Amy C. McGarrity, PERA Interim Executive Director/Chief Investment Officer b. Market & Portfolio Update (Information) Presented By: Amy C. McGarrity, PERA Interim Executive Director/Chief Investment Officer c. Chief Benefits Officer Update (Information) Presented By: Patrick Lane, PERA Chief Benefits Officer d. Legal Update (Information) Presented By: Kevin Gallaway, PERA General Counsel ... Asset–Liability Study Progress Report Developed

Real Estate 2,178,412 2,444,002 2,371,106 2,648,187 2,847,119

The best returning real asset was private real estate, which rose 13.94% for the year as measured by the NCREIF ODCE universe. ... • LACERS’ investment portfolio (“Fund”) ended the quarter with a market value of $14.0 billion, which was $111 million less than at the previous year-end. The Fund’s net of fee return was 0.31% for the year and 8.00% for the three-year period ending December 31, 2015. • The Fund outperformed its policy benchmark by 70 basis points (0.70%) for the year and outperfor

FOURTH QUARTER 2023 ... Portfolio Funding Status ... - The following slides provide a review of key information pertaining to the Los Angeles City Employees’ Retirement System (“LACERS”) Real Estate Portfolio (the “Portfolio”) through December 31, 2023. A detailed performance report is also provided as Exhibit A. - LACERS is below its 7.0% target allocation to Real Estate as of quarter-end on a funded basis, but unfunded commitments will bring the exposure towards the target over the near-te

Corporate Woods Drive ... Albany, ... 1221

More information may be found in SWIB’s Goals, Strategies & Performance Report: swib.state.wi.us/ publications. ... The Retirement Funds’ management discussion and analysis of the financial activities for the calendar year ended December 31, 2025 is presented as an introduction to the financial statements. It is meant to assist the reader in understanding the financial statements by providing an overall review of the financial activities during the year while also comparing several of the curren

REPORTS A. Engagement Report for March 2025 Barry W. Lew, Legislative Affairs Officer (For Information Only) ... April 2, 2025 ... Page 3 ... VI. REPORTS (Continued) ... B. Staff Activities Report for March 2025 Cassandra Smith, Director, Retiree Healthcare ... (For Information Only) ... C. LACERA Claims Experience ... V. REPORTS ... A. Engagement Report for February 2025 ... B. Staff Activities Report for February 2025

Audit Reports A. Report 461: Real Assets Audit Report 461 - Real Assets - Page 83 ... 101 Internal Audit FY 2025 Annual Plan Progress Report As of December 31, 2024 Page 51 of 101 1 Risk Based Projects 2 Approved FY 2025 Annual Plan Sensitive Systems 3 Standards Mandated Adjustments to the Plan 4 Board Mandated Carry-Over from Prior Long-Range Plan 1 Investment Balances, Performance Reporting and Investment Manager

C. DISCUSSION AND POSSIBLE ACTION REGARDING ITEMS FOR INDIVIDUAL CONSIDERATION 1. The Executive Director reported on the February pension ministerial actions. 2. The Board approved Mr. Shomer’s and Mr. Taglienti’s request to attend the NCPERS Annual Conference & Exhibition. 3. The Chief Financial Officer presented the fourth quarter 2025 financial statements. 4. Approved issuance of the January 1, 2025 revised actuarial valuation report, subject to final review and approval by the Executive Dire

Assessment Category 2020 Assessment 2021 Assessment Percent Change Residential $193,599,518,180 $203,305,683,990 5.01% Non-Residential $71,194,126,550 $69,112,807,620 -2.92% Total $264,793,664,730 $272,418,491,610 2.88% ... The total 2021 assessment increase of approximately $7.62 billion (2.88 percent) is comprised of an increase of approximately $5.34 billion (2.02 percent) due to equalization, and an increase of approximately $2.28 billion (0.86 percent) due to growth. As noted in the FY 2022

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