South Carolina Retirement System (SCRS) has approved a $250m (€213.7m) commitment to CBRE Investment Management’s open-ended core US real estate fund as part of $350m worth of new real estate commitments.
The pension fund said in a meeting document, the capital has been committed to CBRE US Core Partners.
According to industry sources, the US Core Partners, which has made some self-storage investments, plans to be overexposed to industrial properties.
CBRE Investment Management declined a request for comment.
SCRS has also made a $100m commitment to the Brookfield Strategic Real Estate Partners IV.
Brookfield Asset Management is seeking a $17bn capital raise for the global opportunistic real estate fund which will be investing in a mixture of properties and real estate operating companies.
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