The Common Retirement Fund allocates nearly half of the month’s commitments to real estate investments.
Its purchase of a stake in a swanky NYC tower shows there’s demand for the new stuff. But older buildings are struggling.
Brad Lander wants the city’s pension funds to be able to invest more in alternative assets. Last year he called some of them ‘risky and speculative.’
Investors will need help hitting even reduced target returns in the coming years, says Goldman Sachs report.
Some 86% now invest in alternatives, says Nuveen survey.