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Detroit Policemen & Firemen earmarks $30 million for real estate funds

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Detroit Policemen & Firemen Retirement System approved two new commitments totaling $30 million to value-added real estate funds.

The $2.8 billion pension fund’s board approved commitments of $15 million each to Grandview Partners II and Lubert-Adler Workforce Housing Fund, managed by Lubert-Adler Partners, at its Aug. 19 meeting, recently released meeting minutes show.

Ryan Bigelow, chief investment officer, and Joe Bogdahn, chairman of the investment committee, could not be immediately reached for further information.