Who backs whom

Pension and institutional capital in real estate vehicles

Rows from public pension disclosures (NY Common’s asset listing, the plans on the venture lane’s tape), Form 5500 Schedule D pooled vehicles and IRS 990 partnership schedules, resolved to a vehicle by exact name or stem and series numeral, or to a manager by name or brand, with the basis printed. An amount is the plan’s own commitment; a row with only book and fair value is a disclosed holding, never a commitment.

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