State of Wisconsin Investment Board (SWIB) has approved five new real estate commitments totaling $608m (€516m), according to a board meeting document.
The largest is a $231m investment in Project Dynasty, a closed-ended fund that invests in the secondary market.
The pension fund also committed $150m to WESCO V, a joint venture with Essex Property Trust to invest in apartment properties on the West Coast of the US.
It also committed $100m to FPA Core Plus Fund III, a US multifamily fund that invests across the US.
SWIB made two industrial investments, including a $27m commitment to a joint venture with Penwood Real Estate Investment Management.
The joint venture will invest opportunistically in industrial assets in Southern California, New York and New Jersey.
A $100m commitment was made to the Realterm Logistics Income Fund, an open-ended vehicle that invests in core assets.
SWIB is considering three other commitments, including the creation of a $100m separate account to invest in core senior living properties in the US.
It is also mulling a $75m commitment to a value-added industrial fund and a $20m co-investment in a value-added office fund.
