New York State Teachers Retirement System (NYSTRS) has approved $1.7bn (€1.41bn) worth of real estate fund, separate account and partnership commitments.
The $120bn pension fund said it is investing $250m into an opportunistic separate account relationship with GCM Grosvenor to target a variety of property types mainly in the US. NYSTRS has also allocated $300m to create an opportunistic separate account with Brookfield Asset Management to target a mixture of direct and secondary fund positions in real estate funds.
The pension fund is putting $220m into NYSTRS/FCP Multifamily Equity and Mezzanine Program, a new relationship with real estate investment company FCP to invests in US apartments. FCP declined a request for comment.
NYSTRS has issued a $300m commitment to Artemis Real Estate Partners Debt Fund, Artemis Real Estate Partners’ first real estate debt fund. The fund will be providing whole loans and mezzanine debt on a mixture of multi-family, industrial, office, self-storage, data centres and life science. Artemis Rdeclined a request for comment.
NYSTRS said it issued a $300m commitment into the Brookfield Real Estate Finance Fund VI fund. The pension fund’s other fund investments include a $200m commitment to the Exeter Europe Logistics Value Fund IV, a $100m into Penwood Select Industrial Partners VI fund and a $25m commitment into the US focused Pennybacker EIV fund.
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