SCRS approves $350m in commitments

The US pension has backed two global real estate vehicles.

Institution: South Carolina Retirement System
Headquarters: Columbia, US
AUM: $39.16 billion

South Carolina Retirement System has confirmed $350 million worth of commitments across two real estate funds, according to minutes from the pension’s September commission meeting.

The commitments comprised $100 million to Brookfield Strategic Real Estate Partners IV and $250 million to CBRE Investment Management’s CBRE U.S. Core Partners.

This is the second time the $39.2 billion pension has committed to the Brookfield Strategic Real Estate Partners fund series. It previously invested $100 million to Brookfield Strategic Real Estate Partners III.

As illustrated below, the pension’s real estate fund commitments have tended to focus on global vehicles targeting value-add to opportunistic returns.

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