Cambridge Retirement Mulls Value Add RE RFP, Commits $35M to PRIT FoF

The Cambridge Retirement System said it allocated $35M to a private equity fund and is considering the launch of a search for value-add real estate strategies.

In its recently published December 3, 2024, board meeting minutes, the Massachusetts-based pension approved a recommendation made by its general consultant Segal Marco to commit the amount to PRIT 2025 Private Equity Fund. The allocation was made despite the pension being overweight in its private equity portfolio, which is carrying a 14.8% current weight against a 13% target.

Following a discussion to reduce allocation to core real estate in favor of value-add properties, Cambridge is also looking at potentially issuing an RFP for managers of the sub-asset class within the year. Segal Marco proposed the move after noting that the pension was underallocated to real estate. The board also agreed to conduct a review of its three existing real estate managers in the first quarter of 2027.

Written By: Dakota

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Cambridge Retirement Mulls Value Add RE RFP, Commits $35M to PRIT FoF

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