South Carolina Retirement System (SCRS) has approved a $75m (€71.6m) commitment to the Equus Investment Partnership XII fund, the pension fund disclosed in a meeting document.

The commitment from SCRS is part of the $465m raised by the value-add US real estate fund at its final close at the end of September, according to sources. Other investors to back the Equus Capital Partners-managed fund include pension funds, endowments, insurers and high-net-worth individuals.

The manager has already deployed $263m of Partnership XII’s capital into six equity investments into deals worth over $2.4bn in total, according to industry sources.

Partnership XII’s strategy involves buying existing assets like apartments, industrial and offices to reposition.

Equus did not respond to a request for comment.

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