Three US public pension funds have disclosed committing capital to Blackstone’s latest global real estate fund.
Teachers’ Retirement System of Louisiana (TRSL) and Arkansas Teacher Retirement System have each made a $75m (€70.6m) commitment to Blackstone Real Estate Partners X and the Oklahoma Teachers’ Retirement System has placed $100m into the fund, the pensions fund disclosed in their board meeting documents.
As previously reported, Tennessee Consolidated Retirement System and Minnesota State Board of Investment committed to the fund.
Hamilton Lane, TRSL’s consultant, said in the meeting document that the Blackstone fund targets a $25bn fundraise.
Blackstone declined a request for comment.
Last month IPE Real Assets reported that TRSL was planning to conduct a search for global real estate investment trust (REIT) managers to award a $400m mandate to.
In TRSL’s latest meeting document, the pension fund revealed it has decided to re-hire Dimensional Fund Advisors due to Dimensional’s strong performance and low investment fees.
TRSL revealed it is also considering hiring CenterSquare Investment Management and Cohen & Steers Capital Management for global core REIT and global real estate securities strategies respectively.
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