Institution: State Universities Retirement System of Illinois
Headquarters: Champaign, US
AUM: $23.32 billion
Allocation to alternatives: 15.1%
State Universities Retirement System of Illinois has approved a $50 million commitment to Blackstone’s third Asian opportunistic real estate fund, Blackstone Real Estate Partners Asia III, a contact at the firm informed PERE.
Blackstone launched the fund in June 2021 off the back of its predecessor, Blackstone Real Estate Partners Asia II, which held a final close in April 2018 having raised more than $7 billion in investor capital.
The $23.32 billion US public pension has an 8 percent target allocation to real estate that currently stands at 5.8 percent.
As illustrated below, SURS’ recent real estate commitments have primarily focused on diversified North American vehicles that target opportunistic and value-add returns.
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