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Investment Committee agenda for Dec 9 2025 recommending commitment to LongPoint Fund IV, L.P., a real estate fund managed by Longpoint Realty Partners.

12,13 BSIP’s strong pipeline represents a diversified set of opportunities across our focus regions and target sectors, including distribution utilities, power generation, electric transmission, social infrastructure, data, and transport. There are over $55 billion of investment opportunities in our pipeline, including approximately $13 billion in our near-term transaction pipeline. BSIP’s lower-risk core strategy continues to draw strong investor support. In 2025, the Fund raised…

Northwood Investors Nebraska Investment Council December 2025 HIGHLY CONFIDENTIAL AND TRADE SECRET www.northwoodinvestors.com Northwood Overview Northwood is a vertically-integrated real estate investor focused on generating attractive risk-adjusted returns and creating value across cycles. ... Fund Offering ▪ Closed-end, commingled fund with mandate to opportunistically invest across diversified sectors in the U.S. ▪ Initial investments returns are projected to achieve a 16.8% net IRR / 1.8x…

PSERS Investment Committee pre-deliberation meeting December 4, 2025 covering Cabot Industrial Value VIII, L.P., LEM Multifamily Fund VII, L.P., OceanSound Partners Fund III, and HarbourVest Strategic Partnership. Formal action at December 11/12, 2025 board meeting.

Board recap summarizing the Real Estate & Real Assets program review: $11.6B across four portfolios, near long-term 20% target (22% target), growth in demographic-driven investments, $106 trillion infrastructure demand opportunity through 2040.

Meketa (new investment consultant replacing Aon) Q3 2025 quarterly performance review: Real Return Policy Benchmark +1.5% for quarter; real estate asset class performance vs NCREIF ODCE benchmark; TRS RE allocation ~15% of Real Return bucket.

Stephens Capital Management presentation to APERS (dated November 18 2025) covering PE program Q3 2025 and new private credit activity. HarbourVest Fund of One (Diversified Credit Funds): $550M committed, $12M called as of 9/30/2025. NB Eagle Debt Fund: $200M committed, $80M called as of 9/30/2025. Private credit program in early development with zero non-accruals.

ICM packet for December 3 2025 containing Callan's semiannual real estate portfolio review for the period ending June 30 2025. The RE report shows ACERA's $830M real estate portfolio at 6.31% of plan versus 8.2% target, with unfunded commitments to Heitman Value Partners VI and Starwood Distressed Opportunity Fund XIII. Also includes NEPC semiannual reviews of real assets (including Brookfield Global Transition Fund II-B and Rockland Power Partners V reports) and Artemis Healthcare Fund III delegated authority report.

Nevada PERS Fiscal Year 2025 Public Annual Financial Report. Summary financial report including investment overview for year ended June 30, 2025. Private Real Estate at $3.18 billion (4.5% of total fund). Total plan assets $70.5 billion. Managers: AEW (core RE) and Invesco Realty Advisors (core RE). Consultants: Callan Associates and Jobs Peak Advisors.

FY2025 ACFR investment section listing 84 real estate partnerships ($6.3B fair value, 10.1% of assets) across 39 firms; 5 new commitments totaling $505M in FY2025 including Blue Owl Digital Infrastructure, Fairfield Multifamily Value Add IV, Jadian Fund II.

FY2025 ACFR showing 15% real estate target allocation; real estate rebounded with 4.5% return after two consecutive negative years; $307.8M NAV; managers: American Realty, Barings, Clarion Partners, Artemis RE Partners IV, Basis Investment Group (Big RE Fund I & II), Thor Urban.

StepStone Group partner Margaret McKnight presented a Real Estate Update and Education covering the investment universe, asset class characteristics, performance drivers, and portfolio objectives for LACERA's real estate program.

CIO investment section of FY2025 ACFR covering the $7.0B (9.5% of assets) real estate portfolio, listing all private real estate fund relationships including Heitman Value Partners VI, Clarion Lion Industrial Trust, Brookfield Strategic Real Estate Partners IV, Carmel Partners VIII, Asana Partners III, TruAmerica Workforce Housing Fund II, and performance of 3.1% for the fiscal year.

Annual report (Form 10-K), SEC EDGAR CIK 0001930087. Non-listed business development company (NAV BDC).

NEPC Q3 2025 quarterly investment consultant performance report for TMRS Board, covering real assets composite benchmark analysis and asset allocation ranges broadened to 10-26% for real assets per Board-approved changes.

Staff recommended a $20M commitment to Brookfield Real Estate Solutions II, a global real estate secondaries fund focused on GP-led recapitalizations; NEPC concurred with top FPL rating.

Aon quarterly investment review covering real estate asset class performance ($6.6B at 9.0% allocation) with property type breakdown and benchmark attribution as of June 30, 2025.

Staff educational presentation covering PERA's $4.7B Alternatives program including Real Assets (infrastructure, agriculture, timberland) and Private Credit sub-portfolios as of June 30, 2025.

Boston Retirement System Real Estate Search The Boston Retirement System (the “System”) is soliciting proposals from investment management firms to manage a Real Estate mandate for the System's $6.8 billion, defined benefit, pension fund. The objective of this search is to fill a total of $75 million in potential Real Estate commitments across two closed-end strategy types: (1) Value-Add and (2) Opportunistic. To qualify for this search, candidates must meet the following criteria: 1.

Real Estate Securities Portfolio (I) | Dimensional Investments Explore our…

SCERS 2025 year in review and 2026 Annual Investment Plan presented at the November 19, 2025 board meeting. Covers investment activities and strategic priorities for 2026 including real estate pacing, target allocation management, and manager pipeline.

NCIA board performance review (AUM $206.86B as of 9/30/2025) including core RE ($14.8B) and non-core RE ($2.2B) allocations, recent commitments (LBA NC Core Industrial, Northpond Retail Partners, HRLP Bloc 83), and Callan in attendance.

Verus quarterly Investment Landscape report including a standalone 'State of the Core Real Estate Fund Universe' section; CCCERA RE portfolio includes Rialto Credit Opportunities Fund (RE debt), Adelante/Invesco REITs, and 20+ private RE funds.

Most recent performance deck (Sept 30, 2025): GEP real estate $3.03B – BREIT 59% ($1,777M), Legacy 41% ($1,249M); assets total $208.8B.

AB 2833 statutory fee and expense disclosure for CalPERS alternative investment vehicles for the period ending June 30, 2025 (Item 4f Attachment 1, November 17 2025). Lists all real estate and infrastructure fund names, vintage years, committed capital, management fees, carried interest, and net IRRs.

Comprehensive Real Estate Fund Strategic Review presented by Amit Aggarwal, PIO. Covers CRPTF RE portfolio performance vs. NCREIF NFI-ODCE benchmark, current $3.9B NAV, portfolio composition by strategy and property type, and 2026 pacing plan targets of $1.15B. As of Q2 2025, RE = 6.2% of CRPTF vs. 10% target.

Fund-of-one RE emerging manager partnership structured as second series of existing CRPTF-GCM program (Ci3). GCM ($86B AUM, $7B RE) to invest in small, emerging, and diverse real estate managers. Recommended commitment up to $250M. Non-core value-add; 12-15% net IRR target. 15-year term. Follows 2022 EM series and 2025 GCM/CRPTF SMRE Fund.

NEPC quarterly IPA; records Edgewood Partners V ($100M, RE), ArrowMark CRE SF Fund II ($80M, RE), Brookfield US REIT renewal approved Aug–Sep 2025.

CIO James Bennett memorandum and presentation consolidating Infrastructure, Natural Resources, and Real Estate into a new Real Assets asset class; reviews pacing plan and strategy with 2.5% allocation reduction.

Board meeting notice documenting Aksia's COPERS Q2 2025 Real Estate Performance Report, heard November 6, 2025.

Board of Retirement staff report (File 25-392.1) recommending approval of €50M (~$68M) commitment to PGIM PRECap VIII; a junior debt and preferred capital fund secured by UK and Western European real estate; IC recommended 4-0 on October 9, 2025.

CalPERS Annual Investment Report for Fiscal Year 2024-25. Contains real estate partnership listings on pages 314-315, listing all 30+ active RE fund investments with committed capital, vintage years, and IRR data. Covers full portfolio including domestic and international funds.

PRIM's August 2025 recommendation and unanimous vote to place Meketa Investment Group (among seven others) on the approved list of project-based real estate and timberland advisors.

Marquette Associates flash for October 2025; real estate composite at $88M (~4.8% vs 5% target); American Realty Advisors in Termination status; UBS $17.5M outstanding in redemption queue.

NYSTRS Board approved renewal of StepStone Group Real Estate LP (primary RE consultant, $467,550/yr commencing Feb 1, 2026) and Meketa Investment Group (secondary RE consultant) for one-year terms.

NJ Division of Investment quarterly Director's Report and investment reporting package presented to the State Investment Council at the October 29, 2025 regular meeting. Includes FY2025 performance review by asset class and Q2 2025 RVK quarterly performance review, covering real estate and real assets.

Northern Trust private markets program report as of March 31 2025 presented at the October 28 2025 Board meeting. Real estate program covers Morgan Stanley Prime Property Fund (exit queue flagged), PGIM Real Estate US Debt Fund, American Strategic Value Realty Fund, Greenfield VII (Watch - Artisan acquisition), Grandview I & II (Watch - Artisan acquisition), TA Realty XIII, Brookfield BSREP V, Graceada Partners IV. Meketa onboarding commenced. Bundled in October 28 2025 board book.

PSERS staff presentation and board resolution committing up to $90M to Graceada Partners Fund IV-QP LP. Graceada is a vertically integrated owner-operator focused on value-add multifamily and small-bay industrial assets in secondary and tertiary markets across the Western United States. Target 12-15% net IRR, 1.5-1.7x MoC. Board approved October 23, 2025.

PSERS private markets annual fee and carry review for calendar year 2024. Covers management fees, performance fees, and total cost of private real estate and other private markets investments presented to Investment Committee in October 2025.