NC Retirement System Commits $266M to Real Estate, Private Equity

The North Carolina Retirement Systems (NCRS) has approved three commitments to real estate and private equity totalling $266 million.

$141 million was allocated to NorthRock IV, a core real estate fund. This is an additional investment having previously invested in the Fund.

Also in real estate, $75 million was allocated to RXR NC Development Partners, a non-core strategy.

Lastly, a commitment of $50 million was made to HG Titan 2A Co-Invest, a private equity strategy.

As of March 31, 2024, NCRS is valued at $121.7 billion in assets under management, allocating 5.1% to core real estate, 1.66% to non-core real estate, and 5.03% to private equity. Both allocations fall within the acceptable policy ranges.

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