Defined Benefit Fund Real Estate

Private real estate offers bond-like income with equity-like appreciation potential, while maintaining low correlation to traditional assets. This enhances diversification and provides inflation protection and downside resilience through long-term leases and consistent cash flow.

The following items describe approaches for maintaining a competitive Real Estate program:

The portfolio is primarily allocated to Core strategies—expected to comprise at least 50%—which emphasize income over appreciation. Non-Core strategies, by contrast, rely more heavily on capital gains.

Investments are made through external managers via commingled funds and separate accounts. Manager selection is key, focusing on partners with distinct advantages in sector, geography, or strategy to drive strong risk-adjusted returns.