State of Michigan Retirement System has committed $150m (€132m) across two BGO real estate funds and approved $115m in new infrastructure commitments.
The US pension fund allocated $75m to BGO Europe V, a value-add vehicle targeting $2bn in total capital, including co-investments, to target sectors such as logistics, residential, student housing and data centres.
Michigan Retirement also made a $75m commitment to BGO Industrial Strategies II, which targets US industrial properties.
The pension fund’s infrastructure commitments include approving $100m to ECP VI to back energy transition assets and adding $15m to the ULLICO Infrastructure Fund, an open-ended fund focused on core North American infrastructure.
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