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FRS Trust Fund approves $465m in commitments

The US public pensions has backed four real estate vehicles.

Institution: Florida Retirement System Trust Fund
Headquarters: Tallahassee, US
AUM: $183.20 billion
Allocation to alternatives: 25.70%

Florida Retirement System Trust Fund has approved $465 million-worth of commitments across four real estate vehicles, according to the Q2 transaction report published on the pension’s website.

The real estate commitments comprise $200 million to Heitman Global Real Estate Partners II, $75 million to Heitman Value Partners V, $150 million to The Carlyle Group‘s property open-ended fund, and $40 million to the co-investment vehicle for Invesco Strategic Opportunities Fund III.

The $183.2 billion US public pension has a 10 percent target allocation to private real estate that currently stands at 8.7 percent.

As illustrated below, the recent fund commitments by the Florida Trust fund have predominantly targeted diversified opportunistic vehicles across multiple regions.

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