Pennsylvania Public School Employees Retirement System (PSERS) has made its first real estate commitment of $300m (€276.6m) for 2024 to the Carlyle Realty Partners X, Carlyle’s latest opportunistic US real estate fund.
The pension fund’s target for real estate investment in 2024 is between $800m and $1bn, depending on how its current real estate holdings and overall portfolio perform.
PSERS also disclosed in a meeting document that it made a $300m commitment to CION Grosvenor Infrastructure Interval Fund, a GCM Grosvenor-managed fund seeking to raise $3bn.
The fund will prioritise co-investments over secondary transactions, while investing in a mix of core, core-plus, and value-add assets in the US and Europe.
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