Invesco Real Estate Fund II, LP

Invesco Real Estate Fund II, LP

The SRHS Employees’ Retirement Plan & Trust invested in this limited partnership fund around the time of the fund’s formation in 2007-2008.  CEO Kevin Holland sent a status report to the Board of Supervisors in late 2014. He noted that Singing River was encountering some delays in terminating the plan because of illiquid investments. This fund appears to be at least one of those investments.  Read about the basics of real estate limited partnerships.

  • Annual fee: 0.75% of assets under management
  • Additional fees: 7.50% of net operating income of the Fund’s stabilized investments; 0.50% of committed equity on development projects
  • Minimum investment:  $10,000,000*
  • Liquidity: Illiquid
  • Asset class: Private equity/Real estate

Of note:

Invesco Real Estate Fund II, LP is listed as an asset manager in the 2008 and 2009 pension plan audits.

The 2009 and 2010 audits list Invesco National Trust Company as asset manager.

*The stated minimum investment is $10 million, although this could be waived by the fund manager.  The Invesco fund is never listed as having more than 5% of the Retirement Trust investments. We estimate that SRHS’ illiquid position is under the 5% reporting threshold,which are listed below:

  • 2011:  $5.9 million
  • 2010:  $6.6 million
  • 2009:  $6 million
  • 2008:  $6 million
  • 2007:  $7.5 million
SEC Filings

Notice of Sale of Securities June 5, 2007
Notice of Sale of Securities April 23, 2008
Notice of Sale of Securities July 16, 2008

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