Ohio Public Employees Retirement System is investing $200m in Blackstone’s latest real estate ‘secondaries’ fund.

The pension fund has approved a $200m (€183.5m) commitment to Strategic Partners Real Estate Fund VI, which invests in a mixture of existing close-ended funds, club funds and joint ventures in the US.

According to board meeting documents, Ohio PERS is looking to invest a further $400m in other real estate secondary market strategies. Since 2010, the pension fund has invested $800m in four secondaries funds.

The allocation by the pension fund will cover 27% of the $750m capital raising target sought by Strategic Partners, which was acquired by Blackstone from Credit Suisse in 2013.

The investments made by Fund VI include office, industrial, retail and apartment assets, as well as hotels and self-storage.