SCRS commits to Blackstone Real Estate Partners IX

The US public pension has backed Blackstone's multi-regional real estate fund.

Institution: South Carolina Retirement System
Headquarters: Columbia, United States
AUM: $29.26bn
Allocation to alternatives: 20.90%
Bitesize: $100-200m

South Carolina Retirement System (SCRS) has agreed to commit $100 million to Blackstone Real Estate Partners IX, an opportunistic fund which invests globally.

The $29.26 billion US public pension has a 9.10 percent target allocation to real estate that currently stands at 9.40 percent.

As illustrated in the chart below, SCRS made three commitments to funds focused on real estate in 2018, which combined constitute $325 million.

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