The New York State Common Retirement Fund (NYSCRF) has disclosed $600 million in recent real estate commitments. NYSCRF committed $300 million each to KKR Real Estate Partners Americas III and Black Creek Industrial Fund (BCIF).
KKR Real Estate Partners Americas III, sponsored by KKR, is a closed-end, diversified, opportunistic fund focused on investing in cash-flowing, transitional assets in the top 15 U.S. metropolitan statistical areas, and in scalable real estate platforms operating in real estate intensive businesses. KKR is an existing relationship for the retirement fund.
BCIF, sponsored by Black Creek Group, is an open-end fund structure focused on core and core-plus bulk warehouse and light industrial acquisitions, with the ability for up to 40 percent build-to-core development. Black Creek Group, one of the largest privately owned operators of industrial properties in the United States, is an existing relationship for the retirement fund.
The investmen
