The State of Michigan Retirement System’s Real Estate and Infrastructure Division’s (REID) strategy has disclosed three new commitments for the quarter ending March 30.
The commitments include $150 million to TPG Real Estate Partners IV, managed by TPG Real Estate IV Management; $100 million to Asana Partners Fund III, managed by Asana Partners; and $100 million in SFR CM, managed by Cerberus Capital Management.
TPG Real Estate IV is a closed-end, multi-sector real estate fund investing in North America and Western Europe. Asana Partners Fund III is a closed-end U.S. real estate fund concentrating in the retail sector. SFR CM is a separately managed account exclusively investing in the U.S. single-family rental market.
During the past year, the pension fund’s allocation to real estate increased by $689 million, according to minutes from Michigan’s June 23 board meeting. The pension fund has an 8.3-percent allocation to real estate and infrastructure.
