Indiana Public Retirement System (PRS) has committed €150m to Carlyle Group’s latest pan-European real estate strategy.
According to a board meeting document, the pension fund allocated €75m directly to Carlyle Europe Realty Fund III and committed a further €75m to an affiliated co-investment sidecar vehicle.
The fund series follows an opportunistic strategy focused on European logistics, residential, student accommodation, retail and hotel investments.
Indiana PRS has also approved $150m (€120m) directly to Ambrose Fund II and $50m to an affiliated co-investment sidecar vehicle.
The strategy focuses on building a diversified portfolio of US industrial real estate, targeting logistics, manufacturing and e-commerce-related assets.
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