New York State Common Retirement Fund (NYSCRF) has approved a $125m (€107.2m) co-investment alongside Brookfield Asset Management’s fifth global opportunistic real estate fund.
The $284bn pension fund’s commitment to Brookfield Strategic Real Estate Partners (BSREP) V Co-Invest follows a $375m direct investment to the main fund, BSREP V, which was made in March this year.
NYSCRF told IPE Real Assets: “The recent commitment to Brookfield ensures that the CRF will have continued exposure to global real estate investment opportunities with a manager that can execute at scale.
“The global strategy of the Brookfield fund fits within the CRF’s current investment plan and meets CRF’s objectives, including the size of the investment.”
The Brookfield strategic real estate partners fund series has a history of investing in a variety of property types, including office, multifamily, logistics, retail, hospitality, mixed-use and alternatives.
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