State of Wisconsin Investment Board (SWIB) has approved three new real estate commitments worth $225m (€205.6m) in total.

The pension fund disclosed in a board meeting document that it placed $100m into the Penwood Select Industrial Partners VII fund, made a $25m commitment to the HSREF VII Venture and placed $100m into the Partner Solutions/Wilson Joint Venture.

According to sources, Penwood Real Estate Investment Management has so far raised $273m for Partners VII, its latest US industrial value-add fund.

Partners VII, which has a hard cap of $500m, is expected to have a final close in the third quarter of this year.

The HSREF VII Venture is a co-investment vehicle that will invest alongside Harbert US Real Estate Fund VII, a US real estate fund that raised $521m at its closed in May of 2021.

Details of the Partner Solutions/Wilson Joint Venture are currently unknown.

SWIB declined a request for further details.

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