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FRS Trust Fund commits more than $350m to private real estate

Florida Retirement System ends 2021 by approving commitments to three unique real estate vehicles.

Institution: Florida Retirement System Trust Fund
Headquarters: Tallahassee, US
AUM: $201.9 billion
Allocation to alternatives: 26.5%

Florida Retirement System Trust Fund has approved more than $350 million of commitments across three closed-end real estate vehicles, according to the pension’s Q4 investment report.

The commitments comprise $150 million to CBRE US Logistics Partners, €100 million to JPMorgan European Opportunistic Property Fund V, and $100 million to Blackstone Real Estate Partners Asia III. Each of the commitments employs a unique real estate strategy across North America, Europe and Asia-Pacific region.

The $201.9 billion Tallahasse-based pension fund has a target allocation of 10 percent to private real estate, which currently stands at 8.50 percent. Illustrated below are the latest fund commitments by the FRS Trust Fund, and the full investment portfolio.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.