Los Angeles County Employees Retirement Association (LACERA) has approved a $300m (€291m) commitment each into Brookfield and Blackstone global real estate funds.

The pension fund disclosed in a meeting document that it has placed the capital into Brookfield Strategic Real Estate Partners IV and the Blackstone Real Estate Partners X funds.

Brookfield is seeking a $17bn capital raise for Partners IV, a global opportunistic real estate fund which will be investing in a mixture of properties and real estate operating companies. 

Blackstone disclosed during a second-quarter earnings call that it had so far raised $24bn for Partners X, its latest global real estate fund, adding that it has a $30.3bn fundraising target for the fund.

The commitments by LACERA are part of the pension fund’s previously announced plan to invest $800m this year in non-core funds. 

The $73bn pension fund is also considering investing between $400m to $800m each in six to eight US-focused ODCE funds. 

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