Institution: North Carolina State Treasury
Headquarters: Raleigh, United States
Allocation to alternatives: 20.04%
North Carolina State Treasury has agreed to commit $300 million to Blackstone Real Estate Partners IX, according to materials from the pension’s recent investment advisory committee meeting.
The $97.14 billion US public pension has an 8.0 percent target allocation to real estate that currently stands at 9.01 percent.
As illustrated in the charts below, North Carolina State Treasury pursues investments in various types of real estate funds. Of its last five fund commitments, the pension has committed to two co-investment vehicles, one mezzanine / debt fund, one secondaries vehicle and Blackstone’s opportunistic fund.
Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.