State of Wisconsin Investment Board (SWIB) is planning to invest $555m (€475.6m) into life science, multifamily and senior housing real estate assets, according to a meeting document.
The pension fund said as part of the potential new commitments planned, it intends to co-invest $110m into a core portfolio of US life science properties.
SWIB is also considering investing $200m into a core US multifamily joint, $100m into a close-end value-add debt fund and possible $145m commitment to a senior living core separate account.
The amount planned for potential investments exceeds the $459m figure reported in June this year.
Over the one year period ending August 2020, SWIB missed its real estate benchmark as it recorded 3.45% gross return versus the NFI-ODCE Index return of 4.79%, making it the only time the pension fund missed its benchmark. SWIB has outperformed its benchmark over the three, five and 10-year periods.
SWIB told IPE Real Assets that its retail and lodging holdings within the real estate portfolio have been the most impacted by the pandemic and associated shutdowns.
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