School Employees Retirement System of Ohio (SERS) and San Mateo County Employees’ Retirement Association (SamCERA) are both increasing their exposure to real estate debt.
Ohio SERS is committing $50m (€46.1m) to Blackstone Real Estate Strategies Fund V, according to the pension fund’s board meeting report.
Blackstone has raised more than $5bn for the fund, according to president and COO Jon Gray, during Blackstone’s second-quarter earnings call earlier this month, including $347m raised in the second quarter of this year.
The global fund provides real estate debt and invests in liquid securities, structured solutions for financial institutions and corporate credit.
SamCERA, meanwhile, has committed $35m to the Beach Point Capital Real Estate Debt Fund, according to its board meeting report.
Beach Point Capital, which manages the fund, did not respond to a request for comment.
The $35m commitment represents the pension fund’s second real estate debt investment. It has previously invested in the PGIM Real Estate US Debt Fund. This investment is currently valued at $72m.
