Institution: Minnesota State Board of Investment
Headquarters: St Paul, US
AUM: $82.14 billion
Allocation to alternatives: 15.8%
Minnesota State Board of Investment committed $300 million across two private real estate vehicles, as mentioned during its February 2021 investment board meeting.
The commitments comprised $200 million to Brookfield Real Estate Finance Fund VI and $100 million to Lubert-Adler Recovery & Enhancement Capital Fund. Both fund commitments are re-ups with existing managers.
MSBI also approved Albourne Partners as its private market consultant.
As illustrated below, Minnesota SBI’s recent real estate commitments have tended to focus on global vehicles employing value-added and opportunity strategies. It allocates 1.4 percent of its full investment portfolio to private real estate.
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