Minnesota State Board of Investment is planning to commit up to $200m (€189.7m) to Blackstone’s latest global real estate fund.
The pension fund proposed in a meeting document that it intends to commit up to $200m or not more than 20% of the Blackstone Real Estate Partners (BREP) X fund’s total commitments.
Fundraising details for the latest Blackstone global opportunistic real estate fund are currently unknown.
Blackstone raised $20.5bn for the predecessor Blackstone Real Estate Partners IX fund in September 2019.
The opportunistic BREP X fund, which will mainly target assets in the US and Canada, will also invest some capital alongside current Blackstone regional funds Blackstone Real Estate Partners Asia and Blackstone Real Estate Partners Europe.
Blackstone declined a request for comment.
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