At the January 16 board meeting, the Southfield Employees’ Retirement System approved a $1 million commitment to TerraCap VI.
According to meeting minutes, there is potential to increase the allocation to the value-add real estate fund at a later date.
Southfield ERS’s general consultant, AndCo, assisted with the commitment.
As of Dec 31 2023, the $123 million Retirement System’s actual allocation to real estate was 7.7% and the target was 8%.
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