State of Michigan Retirement System has approved new commitments totaling $175m (€167m) for its infrastructure and real estate portfolios, according to a board meeting document.
One of the commitments was a $100m investment in the KKR Global Infrastructure Investors V fund.
KKR is still raising capital for the fund and reached $10.3bn, according to its third-quarter earnings report.
State of Michigan Retirement System has also approved a $75m commitment to Transwestern Strategic Partners Fund IV.
The value-add real estate fund is managed by Transwestern Investment Group, which did not respond to requests for comment.
The target capital raise for the fund is $500m, according to an SEC filing, above the $325m raised for Transwestern for Fund III in 2022.
The fund will invest in industrial, multifamily and healthcare real estate in the US.
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