The non-traded fund currently has more than $2 billion in outstanding redemption requests.
The firm's flagship Cox Retail Secondaries Fund I is offering to purchase up to $2.5 million of Variant Alternative Income Fund shares at a 40% discount to October 26 NAV.
The pension worked with Hamilton Lane on the secondary acquisition of an interest in the approximately $31 billion open-end real estate fund.
Harrison Street's process sold 91% of shares offered, with 41% transacting at a 15% discount to NAV versus the 20% initially requested.
The combined $25 million program prices ADS and ASIF shares at 14.6% and 13.4% discounts to August NAVs respectively, after both funds again capped repurchases.
The firm has reportedly engaged with prospective buyers to facilitate liquidity for investors in a US-based open-ended fund managed by Blackstone Property Partners.
Funds managed by Apollo have invested more than $1 billion in a joint venture with the trust, which will use the proceeds to repay a significant portion of its credit facility.
The trust repurchased approximately $120 million of outstanding shares in Q1, representing around 1.5% of its $8.1 billion March NAV.
In March, the $22 billion non-traded fund was the target of an unsolicited tender offer from Saba and Cox Capital at a steep discount.
The announcement comes as investors in Blue Owl's non-traded BDC shunned an earlier Saba and Cox Capital joint-offer to repurchase shares at a steep discount.
