opportunistic

Targeting a smaller vehicle goes against the trend of firms able to raise successively larger funds. There are benefits – and risks – in doing so.

The New Mexico sovereign wealth fund has invested $242m in the Los Angeles-based manager’s vehicles since 2014.

Bracing for a possible market downturn in 2019, the Chicago Teachers’ Pension Fund sees allocations to real estate debt strategies as one way for pensions to meet the liabilities of their beneficiaries.