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CLARIFICATION: The West Virginia Investment Management Board committed $70 million each to ABR Capital Partners’ ABR Chesapeake Investors VII and TPG Angelo Gordon’s TPG AG Credit Solutions Fund III at its July 22 real estate committee meeting. Incorrect fund names and commitment amounts were included in yesterday’s FIN Daily based on plan provided materials.
The retirement system added a trio of domestic core-plus fixed-income investments at last week’s board meeting.
The city received seven proposals in response to an RFP issued in June.
The pension plan committed $120 million total to two existing manager relationships in the third quarter.
The firm’s Global Fund Program will celebrate its 30th anniversary next year.
The hire concludes an RFP process that began in May.
The pension fund is seeking U.S. residential real estate managers to handle at least $50 million.
The newly appointed cio has been with the firm for 19 years and also serves as cfo, a partner and a member of its investment committee.
The partnership will further deepen Legal & General’s private markets capabilities in the U.S. as well as address investor demand for real estate equity exposure.
The plan adopted a new target to private equity earlier this year.