North Carolina Retirement Systems has made $500m (€428.6m) worth of commitments to Harrison Street and LBA Realty real estate funds.
The pension fund disclosed in a board meeting document that it placed $150m each into the Harrison Street Real Estate Fund X fund and its associated co-investment vehicle.
According to a recent SEC filing, Fund X has a $3bn hard, while its associated co-investment vehicle seeks to raise an additional $750m.
Fund X targets specialised property types like student/senior housing and medical office buildings in the US.
Harrison Street declined a request for comment.
North Carolina Retirement said it made a $200m commitment to LBA Logistics Value Fund X, a fund which targets non-core industrial assets in the US..
As previously reported, LBA Realty aims to raise $2.5bn to invest in existing industrial assets with value-add potential or new development opportunities. The latest fundraising target is a 25% increase from its previous fund in the series.
North Carolina said it has a $1bn real estate pipeline with four future commitments, including three that are either opportunistic or value-add and one that is core.
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