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 $600 million across two private real estate vehicles, according to its May 2021 investment board meeting document.
The commitments comprise $300 million each to Brookfield Strategic Real Estate Partners IV and Carlyle Realty Partners IX. Both fund commitments are re-ups with existing managers.
As illustrated below, Minnesota SBI’s recent real estate commitments have tended to focus on global vehicles employing an opportunity strategy. The organization currently allocates 1.4 percent of its full investment portfolio to private real estate.
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