Institution: North Carolina State Treasury
Headquarters: Raleigh, United States
AUM: $97.14bn
Allocation to alternatives: 20.04%
Bitesize: $100-200m
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.
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