SBA Florida approves $260m in commitments

The US public pension has backed three private real estate funds.

Institution: Florida State Board of Administration
Headquarters: Tallahassee, United States
AUM: $200.94bn
Allocation to alternatives: 24.90%
Bitesize: $100-200m

Florida State Board of Administration (SBA Florida) has agreed to commit up to $100 million to BREP IX Commercial Real Estate Fund, up to €100 million ($110 million) to Blackrock Europe Property Fund V and up to $50 million to Prologis UK Logistics Venture, a contact at the pension informed PERE.

The $200.94 billion US public pension has a 10.0 percent target allocation to private real estate that currently stands at 9.40 percent.

As illustrated in the charts below, SBA Florida has made one other commitment to a real estate fund with a 2018 or 2019 vintage: €75 million to JP Morgan European Opportunistic Property Fund IV.

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