Minnesota State Board of Investment (SBI) is seeking approval to make $600m (€491m) worth of commitments into two opportunistic real estate funds.
The $84.54bn said in a meeting document that it is considering investing $300m each into the Carlyle Realty Partners IX and Brookfield Strategic Real Estate Partners IV funds.
As previously reported, the Carlyle Group fund, which targets a $6bn fundraise, is expected to hold a single close next month. Brookfield Asset Management is hoping to raise $17bn for what would be its largest-ever global opportunistic real estate fund, according to sources.
Minnesota SBI’s proposed commitments to the funds will be presented at the pension fund’s board meeting on 26 May for approval.
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