State of Wisconsin Investment Board (SWIB) has made $275m (€253.4m) worth of investments into real estate debt strategies managed by Heitman and DWS.
SWIB disclosed in a meeting document that it has made a $100m commitment to the Heitman Real Estate Debt Partners III fund and placed $175m into the Wilson DWS Senior Finance separate account relationship as part of $488m worth of commitments made by the pension fund during the final quarter of 2024.
According to SEC filing, Heitman, which seeks to raise $1bn for Partners III, had raised $652m for as of January 2024.
The Heitman fund is expected to use a variety of debt structures to invest the capital including subordinate debt, senior bridge loans and senior construction loans.
Partners III’s investment strategy will target a mix of property types in both the primary and secondary markets across the US, including multifamily housing, single-family rentals, and self-storage facilities. Transactions will be pursued in both the primary and secondary markets.
The Wilson DWS Senior Finance separate relationship will invest in non-core type transactions.
The $156bn pension fund disclosed that the other investments it made during the final quarter of 2023 include a $100m commitment to SRE Wilson Industrial Holdings for a non-core strategy, a $68m investment into Exeter Core Industrial Club Fund II to invest in core and core plus industrial assets, and a $45m investment into the FPA Core Plus Fund III-A to target multifamily real estate opportunities.
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