The Teachers’ Retirement System of Louisiana has approved a commitment of $35m (€25.8m) into Campus Clarion Student Housing Partners.
This is a $500m commingled fund Clarion Partners is running with Campus Apartments.
The strategy is to invest in student housing properties around the US.
Most of this will be in value-add and core plus deals, although there will also be some ground-up development projects in the fund.
The Student Housing Fund is Clarion’s first commingled fund with this property type.
The real estate manager had invested $149.2m in 21 student-housing deals for its separate account pension fund clients from 2006 to 2009.
Last year, Clarion paid $61.9m to buy the 183-unit Retreat at Tucson in Tucson, Arizona, a student housing project is located near the University of Arizona.
Clarion bought this property on behalf of the Tennessee Consolidated Retirement System.