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PSERS Investment Committee pre-deliberation meeting March 12, 2026 covering DRA Growth and Income Fund XII, LLC (real estate), Bain Capital Special Situations Asia III, LS Power Equity Partners VI, and Warwick Partners V. Formal action at March 19, 2026 full meeting.

UWINCO Q4 2025 quarterly report; CEF at $6.3B with real assets at 3% (~$202M) vs 5% policy target; 1-year CEF return +14.4%; 10- and 20-year returns +9.5% and +7.7%.

Annual report (Form 10-K), SEC EDGAR CIK 0001837532. Non-listed business development company (NAV BDC).

The Evolution of Intercontinental Founded by Petros A. Palandjian with a focus on general contracting and engineering Solidified position as one of region’s premier construction companies by having premium in-house construction capabilities ... Core business is private equity real estate investment management and advisory services ... Summary of Intercontinental Today ...  SEC Registered Investment Adviser*  Developed, built, managed, and owned more than $14 billion of commercial real estate .

Annual report (Form 10-K), SEC EDGAR CIK 0001882850. Non-traded (NAV) REIT, equity.

Meketa calendar year-end 2025 performance review. CRPTF returned 14.0% in 2025 vs. benchmark 14.3%. RE at 4.8% ($7.98B total CRPTF assets reference); positive contributions noted from underweight to RE. Q4 2025 RE returned +1.4%. Includes asset allocation update and hedge funds educational session.

FY2025 annual report with investment manager listing for real assets and real estate; $2.72B RE allocation at June 30 2025 (10% of $28.7B fund)

Annual report (Form 10-K), SEC EDGAR CIK 0001542447. Non-traded (NAV) REIT, equity.

Board meeting notice documenting approval of Wheelock Street Real Estate Fund VIII recommendation and Aksia Q3 2025 RE performance report, heard March 5, 2026.

Callan LLC quarterly real assets report for period ending December 31 2025, embedded in APERS March 2026 board packet. Core RE: Carlyle Property Investors 1.79%, Clarion Lion Industrial Trust 2.11%, Invesco Real Estate 0.34%, Heitman Real Estate Trust LP 0.88%, Principal Enhanced Property Fund 1.65%. Non-core RE: Harrison Street Fund VIII -0.67%, IX 2.91% (fiscal YTD), Heitman Value Partners IV -0.05%, Heitman Value Partners VI -6.08% (new), LaSalle Income & Growth VI -3.98%, LaSalle VII 2.91%, TA Realty XII 0.06%, TA Realty XIII 0.15%. Blue Owl Digital Infrastructure III 0.06% quarter / 4.21% fiscal YTD. LaSalle leadership transition: Brad Kessler as Global COO leading Americas IC from Jan 1 2026.

ICM packet for March 4 2026 containing staff progress reports on ACERA's Private Credit Investment Plan (2025–2034) and Private Equity Investment Plan (2025–2034), plus NEPC's asset allocation update reaffirming Mix C (private real assets now 6% target with no new private real estate target allocation). Private credit report notes Orchard Global EleganTree Opportunities Fund III ($60M), ICG Europe Fund IX ($40M), and Strategic Value Special Situations VI ($45M) as 2025 commitments. Also contains the NEPC memo reaffirming Mix C strategic asset allocation as of December 31 2025.

CalSTRS Investment Committee item for RFA semi-annual real estate performance report for period ending September 30, 2025; presented March 4, 2026.

Annual report (Form 10-K), SEC EDGAR CIK 0001812554. Non-listed business development company (NAV BDC).

Annual shareholder report (Form N-CSR), SEC EDGAR CIK 0001803958. Non-traded (NAV) REIT structured as a closed-end interval fund.

NEPC quarterly real estate performance review for PA SERS as of September 30, 2025. Presented at February 24, 2026 Investment Committee meeting alongside the RE Benchmark Update informational item.

IPERS Calendar Year 2025 Annual Investment Summary — standalone public document. Includes CY2025 performance for private real assets program. Details onboarded managers from the December 2025 Real Estate Equity Search (BentallGreenOak U.S. Core Plus SMA, CBRE U.S. Core SMA) and status of Kayne Anderson KAREP VII, Macquarie MIP VI, and other non-core mandates.

PSERS public quarterly disclosure report for private markets as of September 30, 2025. Private Real Estate: $5,974.4M NAV, 22.5% of total PM portfolio, 8.6% ITD net IRR, 1.3x TVPI, 3.8% direct alpha vs public real assets benchmark over 10 years. Includes full manager-level detail.

Minnesota SBI Annual Report for fiscal year ending June 30, 2025. Covers updated real estate and real assets program performance, new asset allocation policy (2% each to real estate and real assets), and private markets portfolio as of June 30, 2025.

NEPC quarterly investment performance report covering BCFPERS real estate composite (~$344M, 10.2% of portfolio) with Core Real Estate at ~$96M and Value Added/Opportunistic at ~$216M; private real assets composite at ~$181M.

Q4 2025 board quarterly update documenting PRIM Board approval of up to $200M to KKR Opportunistic Real Estate Credit Fund III, L.P. as part of Other Credit Opportunities allocation.

Mandatory Quebec filing listing all private-market real estate fund investments as at December 31, 2025, including Greystar, Blackstone, Rockpoint, TPG, Scape, Round Hill, CapitaLand, Aermont, KingSett, and GS UK Multifamily funds.

La Caisse 2025 annual report covering the real estate portfolio (0.2% return for 2025); key transactions include Affinius Capital Data Center Fund, Scape student housing, and Stonecutter office JV with PIMCO.

Annual report (Form 10-K), SEC EDGAR CIK 0001662972. Non-traded (NAV) REIT, equity, diversified.

PRINCIPAL CALIFORNIA MUNICIPAL FUND The Principal California Fund (PCMFX) portfolio posted a negative return of-0.22% forthe firstthree months of 2026. In what can only be described as an extremely volatile quarterforfinancial markets,the portfolio was able to exceed the return posted by its benchmark,The Bloomberg California Exempt Index,which recorded a negative return of-0.32%.After extending market gains from 2025 into the firsttwo months ofthe year, returns abruptly reversed in March,…

ONLY AND PURSUANT TO YOUR ... AND IS NOT, AND MAY NOT BE RELIED ON IN ANY MANNER AS, LEGAL, TAX OR INVESTMENT ADVICE OR AS AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY AN INTEREST IN THE ENERGY & MINERALS GROUP (“EMG”) FUND Il (“FUND IlI” OR THE “FUND”). THIS PRESENTATION MAY NOT BE USED OR RELIED UPON IN EVALUATING THE MERITS OF INVESTING IN THE FUND. NO SUCH OFFER OR SOLICITATION WILL BE MADE PRIOR TO THE DELIVERY OF A CONFIDENTIAL PRIVATE PLACEMENT MEMORANDUM ( “PPM” ) AND OTHER…

H E E L O C K S T R E E T C A P I TA L February 2026 Presentation for Nebraska Investment Council ... Wheelock Street Capital Overview ... In an investment landscape dominated by asset gatherers, Wheelock continues to achieve outperformance by following its core principles of disciplined capital raising, investment selectivity, in-house expertise, a high-touch acquisition and asset management process, and strong sell discipline ... • Since its inception in 2008, Wheel ... over $5…

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NCIA board performance review (AUM $208.23B as of 12/31/2025) covering core RE and non-core RE, recent commitments (RXR NC Development Partners $189M, RXR Cardinal Venture LP $500M), commercial real estate debt co-investments in diligence.

1526 K Street, Suite 420 Lincoln, NE 68508 Phone

Adelante Capital Management monthly REIT manager report for January 2026. Portfolio performance: +4.58% month, +6.9% 1-year. Best holding: Alexandria Real Estate Equities +11.9%. Market commentary: constructive start to the year for commercial RE. Portfolio $630M.

NEPC total-fund IPA for period ending Dec 31, 2025; records Realterm Logistics Fund V ($60M, RE) approved Dec 2025; covers RE program performance.

RCLCO Fund Advisors Q3 2025 semi-annual real estate strategy presentation for CalSTRS Investment Committee, covering performance through September 30, 2025.

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Verus total fund investment performance review for SCERS for Q4 2025. Covers all asset classes including real estate (6.5% allocation vs 8% target) and real assets. Full performance attribution across public equity, fixed income, alternative assets, and real estate.

Meketa Investment Group quarterly performance report for period ending December 31, 2025 (Meketa's first quarter as SAMCERA's investment consultant replacing Verus); includes real estate portfolio performance and Clarion Alternative Sectors Fund onboarding context.

ICM packet for February 4 2026 containing NEPC's 2026 capital market assumptions presentation (as of December 31 2025), including 10-year return forecasts for real estate core, real estate non-core, private debt real estate, and private real assets infrastructure. Also covers NEPC's total portfolio approach education session, overlay/cash equitization education, and Callan's affordable housing real estate education Part 1.