Teachers’ Retirement System of the State of Illinois (TRS Illinois) has approved a $100m (€94.4m) commitment to Gaw Capital Partners’ seventh Asia-Pacific real estate fund.
The pension fund said it has made the commitment to Gateway Real Estate Fund VII, an opportunistic fund.
In November last year, Gaw raised an initial $1.2bn for Fund VII. The fund has a $2.5bn hard cap target. Gaw raised $2.2bn in the final close of its sixth Asia-Pacific fund.
Like its predecessor Gateway funds, Fund VII would target a variety of real estate assets with favourable risk-return profiles, mainly in Asia-Pacific, with exposure in China, Japan, Vietnam, South Korea, Singapore, Southeast Asia and Australia.
TRS Illinois also said it has approved a $300m commitment to the Blackstone Real Estate Partners X, Blackstone’s latest global real estate fund.
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