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St. Louis Public Schools' pension plan is committing some $35 million to two open-end funds sponsored by UBS Realty Investors: a core vehicle called Real Estate Separate Account and a loan fund called Participating Mortgage Separate Account
Real Estate Alert, April 21, 2004
St. Louis Public Schools' pension plan is committing some $35 million to two open-end funds sponsored by UBS Realty Investors: a core vehicle called Real Estate Separate Account and a loan fund called Participating Mortgage Separate Account. The $1 billion pension recently spun its real estate investments out of its alternative-investment holdings, and raised its real estate target to 5%, from 3%, in the process.
Its current real estate holdings stand at just $15 million, or 1.5% of its assets.
COPYRIGHT 2004 Harrison Scott Publications, Inc.
COPYRIGHT 2008 Gale, Cengage Learning
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