State of Michigan Retirement System (SMRS) has expanded its real estate and infrastructure portfolios with $200m (€172.8m) worth of commitments.
The pension fund disclosed in a board meeting document that it had committed $100m to Columbus Circle Holdings, an existing US multi-strategy real estate separate account managed by Domain Capital Partners.
The separate account, which invests in real estate assets alongside Related Companies, was valued at $370.7m through the end of 2025, with $208.7m in remaining unfunded commitments.
SMRS also approved a $100m commitment to the GCM Grosvenor Critical Infrastructure Solutions IV.
The fund’s manager GCM Grosvenor, raised $882m for the previous fund in the series, which had a final close in October 2023.
SMRS expects the latest GCM Grosvenor global fund to specialise in co-investments and secondaries across sectors, including transportation, energy transition, digital, battery storage and e-commerce logistics.
GCM Grosvenor was not available for comment.
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