Nebraska Investment Targeting $400M to Real Estate, Private Equity

The Nebraska Investment Council (NIC) has disclosed updates to their 2024 Real Estate and Private Equity Pacing Plans per materials from the March 7 board meeting. 

NIC is targeting approximately $186 million to Core Real Estate and $61 million to Non-Core Real Estate, totalling $250 million in real estate commitments.

The core real estate plan is focused on continuing to reduce the allocation to COVID-19 impacted property types such as Retail and Office, while increasing the allocation to property types including Apartments and Industrial. The plan is also considering alternative property types including senior and student housing, self storage, among others. 

The allocation of $61 million to non-core real estate will be distributed with a few conditions in mind. The plan includes committing to at least two commingled closed-end funds and looking at property types with a preference for new managers for manager diversification purposes. Also to be considered are alternative property types that will create long-term benefits

The 2024 Private Equity Commitment Pacing Plan calls for $150 million in annual commitments through 2029. 

Investment consultant, Aon assisted. 

As of December 31, the Nebraska Investment Council had a market value of $40.8 billion.

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