Ohio Police & Fire Pension Fund has approved a $100m (€92.7m) commitment to Blackstone’s open-ended core-plus US property fund.
The pension fund told IPE Real Assets that the commitment to Blackstone Property Partners is an “attractive investment due to Blackstone’s resources, a strong track record and its flexible investment strategy”.
Blackstone disclosed in its third quarter of 2023 earnings report that it fund had received $2.9bn worth of capital inflows for the fund that targets a mixture of stabilised traditional and alternative property types.
During the same period, Blackstone deployed a total of $354m for the fund. The total assets under management for this vehicle stands at $68.7bn, generating a net return of 8%.
Blackstone declined a request for comment.
To read the latest IPE Real Assets magazine click here.
