How do you get pension fund/endowment money?

I've seen so many firms with no expertise or poor track records cough World Class cough that were able to get money from state pension funds and endowment funds. I met at guy who started a shop doing nothing but net lease retail centers. All stabilized stuff. Guy is in his early 30s and got a $45M allocation from a state pension fund. Less than 5 years of experience, no deals done personally. Their target IRR is like 10-11%.

 

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