California Public Employees’ Retirement System (CalPERS), with $462.8 billion assets under management, committed a total of $1.85 billion to real estate funds in the first quarter of the year.
Blackstone captured $1.5 billion from CalPERS in March for its Blackstone Real Estate Debt Strategies V fund. The closed-end fund, which is seeking $8 billion of capital, will pursue property-related investments in public and private debt around the world, with a focus on the United States.
In February, CalPERS committed $350 million to Mesa West Real Estate Income Fund V. Managed by Mesa West Capital, the fund will make investments with a value-add approach in mortgages secured by CBD office, hotel, industrial, multifamily and retail in the United States. Mesa was seeking $1 billion in capital for the fund but has raised $1.37 billion to date, according to data from IREI.Q, Institutional Real Estate, Inc.’s proprietary market intelligen
