State of Wisconsin Investment Board (SWIB) has approved a $200m (€191.8m) commitment to CBRE US Logistics Partners, a core open-ended fund managed by CBRE Investment Management.
SWIB told IPE Real Assets that the US logistics fund has a focused investment strategy with an attractive pipeline of development opportunities.
As previously reported the fund targets up to 50% of leverage and expects to generate an 8% to 10% net return.
CBRE Investment Management declined a request for comment.
SWIB said it has made a $17m commitment to WESCO III, a joint venture with Essex Property Trust which invests in apartment properties on the West Coast of the US.
SWIB also disclosed a number of potential real estate commitments it intends to make, including placing $300m into global closed-end non-core funds, investing $100m into core open-ended US apartment fund and making a $150m to a new manager with a non-core closed-end US fund.
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