State of Wisconsin Investment Board (SWIB) has made a further commitment to a Realterm Logistics fund and plans to increase its industrial property exposure.
The pension fund said in a board meeting document that it has invested $100m (€89.1m) in the Realterm Logistics Income Fund and is currently reviewing commitments to value-add and core industrial funds.
The pension fund, which committed $100m to the Realterm Logistics fund in September 2017, told IPE Real Assets that “the importance of these types of assets is in the optimisation of the movement of goods through the supply chain to the end user”.
SWIB said the core open-ended Realterm Logistics fund will be buying “high flow-through” US industrial assets.
SWIB has also approved a $300m commitment to Blackstone Real Estate Partners (BREP) IX, a fund expected to raise $20bn.
BREP IX has four main investment themes and will seek to capitalise on the growth of global logistics, ‘innovation cities’, global leisure and travel, and shortages in rental housing.
The pension fund said it is also reviewing other non-industrial investments including $150m commitments to a retail-only open-ended fund, an opportunistic closed-ended fund and debt core separate account. It is also considering a $142m core apartments separate account.
SWIB has made a one-off $85m real estate debt investment in an entity called Wilson 425 Park, managed by Barings Real Estate Advisers. This is debt provided for an office building in New York City.
- American Investors
- Barings Real Estate Advisers
- Blackstone Real Estate Partners IX
- Capital Raising
- Debt Markets
- Investment Strategies
- Investment Vehicles
- Joint ventures
- Open-ended funds
- Real Estate
- Realterm Logistics
- State of Wisconsin Investment Board
- US Investors