TA Associates Realty is seeking to raise $1.25bn (€1.1bn) for its latest value-add US property fund.
According to industry sources, the TA Realty Associates XII fund has so far raised roughly half of this amount.
TA Associates Realty declined a request for comment.
Minnesota State Board of Investment (SBI) said in a meeting document that it will commit $100m to the fund, which targets office, industrial, retail and apartment assets.
The $96.2bn pension fund previously invested a combined $300m in TA Associates’ four previous funds in the series.
Minnesota said it has also approved a $300m commitment to Blackstone Real Estate Partners IX, which is seeking to raise $18bn.
