State of Wisconsin Investment Board (SWIB) is investing $150m (€135.3m) in US value-add offices through Barings.
The pension fund disclosed in a meeting document that it has approved a $75m commitment to the Barings Innovation & Growth Real Estate fund and committed the same amount to the MM BIG Peninsula Co-Invest Member vehicle to co-invest alongside the Barings fund.
Barings declined a request for comment.
SWIB told IPE Real Assets that the fund is “a compelling investment strategy with an experienced manager”.
In September last year, SWIB also approved a $100m commitment to the Barings Distressed Hotel Opportunity Venture to invest in US hotels.
SWIB has also issued a $23m commitment to the CASA Partners VI core US apartment fund and has topped up its investment in the Crow Holdings Development Opportunities Fund I fund with an additional $5m commitment.
The pension fund said it has a number of potential real estate commitments it intends to make, including a $150m investment into a core apartment separate account and a $100m commitment to an opportunistic apartment joint venture.
SWIB is also considering investing $140m into industrial assets and plans to make two $50m commitments into opportunistic funds investing in Asia and will also consider placing $100m into a US value-add fund.
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