FRS Trust confirms $300m in commitments

The US public pension has backed a Japanese logistical co-investment and a North American commercial real estate vehicle.

Institution: Florida Retirement System Trust Fund
Headquarters: Tallahassee, US
AUM: $182.57 billion
Allocation to alternatives: 27.10%

Florida Retirement System Trust Fund has approved $300 million-worth of commitments for two separate real estate vehicles, according to the Q1 transaction report published on the pension’s website.

The fund commitments comprise $200 million to BlackRock US CRE Debt Fund, and $100 million to a Japanese logistics focused co-investment vehicle by CBRE Global Investors. The target size for BlackRock Real Estate‘s CRE debt fund remains undisclosed, according to PERE. The fund manager has already accumulated $247 million in capital commitments.

The $182.57 billion US public pension has a 10 percent target allocation to private real estate that currently stands at 9.8 percent.

As illustrated below, FRS Trust Fund’s recent commitments have targeted various real estate strategies across multiple regions and sectors.

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