California State Teachers Retirement System (CalSTRS) added $1.2bn (€1.1bn) worth of investments to its real estate portfolio in the last six months of 2024 through eight new commitments.
Two of the commitments targeted property types, data centres and self-storage, that represent a very small portion of the pension fund’s current real estate portfolio.
CalSTRS approved $350m to the BlackChamber Opportunity Fund II data centre fund and its co-investment vehicle, and placed $150m into Nuveen Self Storage JV, a US self-storage venture.
The $352.7bn pension fund already holds $300m in data centres and $400m in self-storage within its real estate portfolio.
The pension fund committed $200m to the opportunistic Secured Capital Real Estate Partners VIII fund and its co-investment vehicle.
CalSTRS expanded its retail portfolio with a $100m commitment to the CenterSquare Essential Service Retail JV, which focuses on core US retail real estate. CenterSquare Investment Management, the venture’s manager, declined to comment.
CalSTRS also committed $150m each to the DivCore Fund VII and Fairfield Residential Holdings II funds, placed $75m into 3650 Stable Cash Flow and committed $50m to the Trigate Fund V fund.
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