SCRS approves increases in three existing commitments

The US public pension fund expands its real estate mandates following an increase in target.

In keeping with the changes made to its strategic asset allocation effective July 1, 2018, which increased the target allocation to real estate, the South Carolina Retirement System has authorised the expansion of its existing core and core plus real estate mandates. This includes an increased investment of up to 3 percent ($933 million) into Morgan Stanley Prime Property Fund; an increased investment of up to 2 percent ($622 million) into Blackstone Property Partners; and an increased investment of up to 1.25 percent ($389 million) into Heitman Core Real Estate Debt Income Trust.

The 31.3 billion US public pension has a 7.0 percent target allocation to private equity that currently stands at 6.0 percent.

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