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Delegated investment report disclosing $100M commitment to Carlyle Realty Partners X (opportunistic real estate), closed June 17, 2025.

Callan LLC quarterly real assets report for period ending June 30 2025 embedded in APERS Sep 2025 board packet. Core RE: Carlyle Property Investors 0.99%, Clarion Lion Industrial Trust 3.20%, Invesco Real Estate 0.46%, Heitman Real Estate Trust LP 1.52%. Non-core RE: Harrison Street Fund VIII (-0.67%), IX (-0.89%), Heitman Value Partners IV (4.21%), LaSalle VI (2.11%), VII (-14.03%), TA Realty XII (-3.28%), XIII (0.65%). Real Assets total 2.09% quarter, 0.28% 1-year. Blue Owl Digital Infrastructure III 0.06%. Detailed breakdown of $969M core/core-plus RE and $172M non-core RE allocations.

Callan Associates Q1 2025 quarterly peer performance report embedded in September 2025 SWIB Board of Trustees meeting materials. CTF 5-year rolling NoF return trend as of June 30, 2025.

Meketa CRPTF performance review. Fiscal year 2025 commentary notes RE has underperformed relative to benchmark due to post-2022 repricing. Includes INR strategic review and infrastructure pacing. RE remains 6.2% of portfolio vs. 10% target.

Combined board calendar sheet, SFERS staff presentation, and Cambridge Associates consultant presentation on the Real Assets portfolio as of 12/31/2024; $5.1B NAV, -0.5% return in 2024, 8.1% net IRR since inception, $395M committed across six 2024 investments.

NYC Police Pension September 2025 meeting package including Townsend real estate Q1 2025 quarterly report; portfolio lists Blackstone Real Estate Partners X, TPG Real Estate Partners IV, KKR Real Estate Partners Americas IV, Carlyle Realty X, BentallGreenOak Asia IV among 2023-2024 vintages.

This paper has been prepared for the Pension Fund Committee (the “Committee”) of the London Borough of Hammersmith & Fulham Pension Fund (the “Fund”). ... • This paper follows Isio’s initial red flag review of the Resonance Impact “Evergreen” Fund on behalf of the Fund and the City of Westminster Pension Fund (the “Funds”), with the findings driven by Isio’s dedicated Real Assets Research Team and Sustainable Investment specialists, supported by the Fund’s dedicated Isio client team. The…

July 31st 2024 Sarasota Firefighters’ Pension Plan ... PORTFOLIO MANAGEMENT TEAM ... Michael G. Fry Managing Director, Portfolio Manager/Analyst Industry: 43 Lazard: 19 ... Giles Edwards, CFA, ACMA Managing Director, Portfolio Manager/Analyst Industry: 21 Lazard: 16 Michael Bennett Managing Director, Portfolio Manager/Analyst Industry: 38 Lazard: 32 ... Robert Failla, CFA Managing Director, Portfolio Manager/Analyst Industry: 31 Lazard: 21 ... Ming Kwang Director, Research Analyst Industry: 20 L

Fresno County (California) Employees' Retirement Association has hired infrastructure manager IFM Investors to invest between $120 million and $140 million in infrastructure assets. ... During a February 5 Board meeting, trustees received presentations from IFM Investors and Borealis Infrastructure, according to draft minutes. Professionals from these firms reviewed their organizational structures, investment strategies and processes, and fee structures. IFM Investors was finally selected. ... T

ICM packet for September 3 2025 containing Callan's semiannual real estate portfolio performance review for the period ending June 30 2025. The packet also reports on three delegated-authority investments: Artemis Real Estate Partners Healthcare Fund III ($35M real estate), Brookfield Global Transition Fund II-B ($40M real assets/infrastructure), and Rockland Power Partners V ($30M real assets). Also includes NEPC semiannual reviews for private equity, private credit, real assets, and absolute return.

CalSTRS Investment Committee item for RFA semi-annual real estate performance report for period ending March 31, 2025; presented September 3, 2025.

Florida SBA Annual Investment Report for FY2024-25 (fiscal year ending June 30, 2025). Covers RE program performance, allocation status vs. 12% target, and investment activity for the year. Includes performance data for all asset classes with real estate showing positive recovery after prolonged negative period.

FY2026 Annual Investment Plan with real estate section documenting seven CY2024 non-core commitments totaling $1.265 billion; consultant is Townsend Group.

NEPC quarterly report; real estate composite ~$364M (10.4% of portfolio), Core Real Estate up 12.9% over 1yr led by Principal Global Investors (+32.7%); private real assets ~$176M.

Statutory report listing ISBI's Illinois real estate investments by property address; $89M in direct Illinois RE property exposure and $95.6M managed by Illinois-based RE managers as of March 31 2025

UBS Farmland Investors LLC• UBS Farmland Investors LLC is the farmland investment business within UBS Asset Management, Real Estate & Private Markets ... Sonoma County, CA ... results.These properties are ... in an existing portfolio ... are not available for investment. ... AgriVest Farmland Fund - directors• Con Englehorn, ... Managing Director, Head of Real Estate ... , UBS Asset Management, Real Estate & Private ... CH, JP ... AgriVest Farmland Fund - conclusionThe Fund provides investors a

All information is as of December 31, 2025, Figures through December 31, 2025. Includes Investment team, ICS, Finance / Operations, Portfolio.

Description of Investment Service Contract Contracting Entity: I-Squared Capital Service/Product: ISQ Global Infrastructure Fund IV (UST), L.P. Contract Effective Date: August 21 th, 2025 Contract Expiration Date: 10-Year term, plus two one – year extensions at GP discretion with indicative hold periods of 5-7 Years Investment Objective: Aims to build a diversified portfolio of 25-30 value-add infrastructure investments focusing on development of platforms in the middle market while also…

As of January 21, 2025, there are no other Aksia client considering a commitment to ISQ Global Infrastructure Fund IV or ISQ Open…

The City of Baltimore Employees’ Retirement System (ERS) has been recognized as one of the nation’s Top 10 public pension funds by private equity returns, according to the 2024 Public Pension Study released by the American Investment Council (AIC). ... ERS ranked 6 out of 200 U.S. public pension funds analyzed in the AIC’s annual study, which evaluates private equity performance across plans representing nearly 34 million public sector workers and retirees. ... “The City of Baltimore Employees’

Quarterly portfolio allocation report showing real estate composite ($269.6M, 11.9%): core RE (American Realty, Clarion Lion Properties Fund, Barings) and closed RE (Big Real Estate Fund I, Big Real Estate Fund II, Artemis RE Partners IV, Thor Equities); presented at August 21, 2025 board meeting.

Monthly investment performance flash report presented at August 21, 2025 board meeting showing core real estate composite (American Realty, Clarion Lion Properties Fund, Barings) with +4.5% 1-year return; full manager status and NFI-ODCE benchmark comparison.

RCLCO Fund Advisors Q1 2025 semi-annual real estate strategy presentation for CalSTRS Investment Committee covering performance through March 31, 2025.

Kayne Anderson Capital Advisors, L.P. 717 Texas Avenue, 22 nd Floor Houston, TX 77002 www.kayneanderson.com March 28, 2024 This brochure on Form ADV (the “Brochure”) provides information about the qualifications and business practices of Kayne Anderson Capital Advisors, L.P. (“Kayne”). If you have any questions about the contents of the Brochure, please contact Michael O’Neil, Chief Compliance Officer, at (310) 282-7905 and/or moneil@kaynecapital.com. The information in the Brochure has not…

ERS staff FY2026 private real estate capital plan (Aug 2025) outlining commitment schedule Sep 2025–Aug 2026; portfolio stats as of Dec 2024: $6.7B committed, 9.5% IRR, Aksia as consultant.

Verus quarterly Investment Landscape report including a dedicated 'State of the Core Real Estate Fund Universe' section examining redemption queues, mixed fundamentals, and CCCERA's private RE and Rialto Credit debt portfolio performance.

Meketa Investment Group quarterly total fund performance report for period ending June 30, 2025, covering ERS's $24.4B portfolio including real assets sub-allocation tracking.

The Board shall appoint an Investment Consultant to assist in the overall supervision of the investments. The Investment Consultant’s responsibilities shall include at a minimum the requirement to: 1. keep the Board of Trustees and the Administrator apprised of material changes in investment strategy, investment managers, asset mix, portfolio structure, and market value of the assets; 2. monitor the Fund’s investment performance and its investment managers, and assist the Board and the…

NEPC quarterly IPA; records Ram Realty Partners LP ($50M, RE) approved Jun 2025 and Raith Core Plus SMA amendment; presented at Aug 2025 IC meeting.

Board of Retirement informational staff report (File 25-271.1) reporting $75M intended commitment to Kayne Anderson RE Partners VII (medical office, student housing, senior housing, light industrial) against $145M 2025 pacing plan; notes intent to propose European RE debt fund later in 2025.

ICM packet for August 6 2025 containing the final amended ACERA Real Estate Investment Policy (prepared by Staff and Callan) as an action item. The policy update was approved at this meeting, with Callan and ACERA reviewing proposed changes to portfolio composition limits and delegated authority. The packet also contains a report on Great Hill Equity Partners IX ($50M PE, delegated) and a report on Khosla Ventures IX ($35M VC, delegated). Staff memo details policy compliance requirements including 8.2% target allocation and 85–100% equity real estate range.

Callan review of TA Realty Value-Add Fund XIV LP, fourteenth in TA Realty's value-add series. Targets $2B commitments, 10-12% net IRR / 14.5-16.5% gross IRR. Strategy: multifamily (30-40%), industrial (30-40%), data centers (0-10%), retail (0-5%), office (0-5%). East/West coast and South focus. Dated August 4, 2025.

Q2 2025 board quarterly update recording PRIM Board approval of Altus Group for private real estate appraisal and International Woodland Company (IWC) plus eight project advisors including Meketa for RE/timberland consulting.

NJ Division of Investment quarterly Director's Report and investment reporting package presented to the State Investment Council at the July 30, 2025 regular meeting, including Q1 2025 RVK performance review and portfolio update covering real estate and real assets holdings.

Adelante Capital Management monthly REIT manager report for June 2025. Portfolio performance: trailing 1-year +8.47%. Best holding: CBRE Group +12.0%, worst: Alexandria Real Estate Equities -19.4%. Commentary notes publicly traded RE companies delivered investor presentations at NAREIT conference. Portfolio $646M (Adelante) plus MCM REIT Index Fund.

SNAPSHOT JPMCB Special Situation Property Fund ... Commentary JPMCB Special Situation Property Fund 4 produced a second quarter total gross return of 1.82%, with an income return of 1.12% and appreciation of 0.69%. The Fund’s trailing one-year total gross return was 18.51%, with an income return of 5.62% and appreciation of 12.26%. Quarterly valuation of direct real estate resulted in total net appreciation of $12.2 million (66 bps). Appreciation coupled with realized gains from asset sales w

Staff memo and IPC report proposing up to EUR 75 million in DIF Infrastructure VIII SCSp, up to EUR 75 million in DIF Value-Add IV SCSp, and up to EUR 150 million in a co-investment vehicle, all managed by CVC DIF. CVC DIF has deployed over EUR 11 billion across 220+ investments with a loss ratio below 1.5%. Presented at SIC July 30, 2025 regular meeting.

Harrison Street Capital full GP presentation to VPIC for Real Estate Partners X, LP. The 71B AUM firm (Colliers 75% owned) exclusively focused on alternative real assets since 2005. Fund X targets $2B/$3B hard cap at 13-15% net IRR, continuing strategy of student housing, senior housing, healthcare delivery, life sciences, data centers and storage across North America and Europe.

FEG Q1 FY2025 investment update; real estate +3.9% relative contribution for the year with 6% allocation in $1.18B LTIP.