New York State Teachers Retirement System (NYSTRS ) has committed $600m (€490m) to six real estate funds.
The pension fund told IPE Real Assets that it is investing $200m in Grosvenor Capital Management Debt 2018, a vehicle that will place debt with emerging real estate managers in the US.
It has also invested $100m in Northwood Real Estate Partners Series VIII, which will invest opportunistically in the US and Europe, and $100m in Penwood Select Industrial Partners V, which is targeting industrial markets in Southern California, New York and New Jersey.
Last month, IPE Real Assets reported that Penwood’s fifth industrial fund had met its fundraising target.
NYSTRS has also allocated $75m to Abacus Multi-family Partners IV, which focuses on converting value-add apartments into grade-A residential assets, avoiding major markets like San Francisco and New York City.
It also invested $75m in Artemis Real Estate Partners Fund III, and $50m in Green Oak US Fund III. Both funds pursues opportunistic strategies across property types in the US.
- Abacus Multi-family Partners
- American Investors
- Artemis Real Estate Partners Fund III
- European Investors
- Green Oak US Fund
- Grosvenor Capital Management
- Investment Strategies
- Investment Vehicles
- New York State Teachers Retirement System
- Northwood Real Estate Partners
- Pension Funds
- Penwood Select Industrial Partners
- Real Estate
- US Investors