New York State Common Retirement Fund (NYSCRF) has approved three new commitments to real estate funds totalling $900m (€769m).
The $284bn pension fund has committed $300m to the GID Mainstay In-Kind Fund, an open-ended US apartments fund established by GID Multifamily Investment Management in 2022.
NYSCRF has also invested $300m directly into Blue Owl Real Estate Fund VII, alongside a $100m allocation to the fund’s co-investment sidecar, and committed $200m to Asana Partners Fund IV.
As previously reported, Blue Owl Capital is seeking to raise $6.5bn to invest in the US and Canada net lease real estate. The fund, which has a $7.5bn hard cap, is projected to reach a final close in June this year.
Asana Partners is seeking to raise $1.5bn for its fund, which targets high-street retail and neighbourhood shopping centres across the US.
| Fund Name | Manager | Commitment Amount | Strategy | Target Region |
|---|---|---|---|---|
| GID Mainstay In-Kind Fund | GID Multifamily Investment Management | $300m | Open-ended US apartments | US |
| Blue Owl Real Estate Fund VII | Blue Owl Capital | $300m | Net lease real estate | US and Canada |
| Blue Owl Real Estate Fund VII (Sidecar) | Blue Owl Capital | $100m | Co-investment sidecar | US and Canada |
| Asana Partners Fund IV | Asana Partners | $200m | High-street retail and neighbourhood malls | US |
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