State of Michigan Retirement System has made $90m (€77.3m) worth of commitments, split between a fund managed by TPG Real Estate and an infrastructure fund managed by ArcLight Capital Partners.
The pension fund disclosed in a board meeting document that it placed $40m into the TPG Real Estate Credit Opportunities fund, which closed last month after raising $2.1bn.
Early last month, TPG Real Estate closed the real estate debt fund, which exceeded its initial $1.5bn capital raise target. Of the committed capital, around $426m has already been deployed across 17 transactions, with an initial focus on industrial and multifamily assets.
State of Michigan Retirement System committed the remaining $50m to the ArcLight Infrastructure Partners Fund VIII, which focuses on energy and power infrastructure sectors across North America.
To read the latest IPE Real Assets magazine click here.
