A recent investment report shows the California Public Employees’ Retirement System (CalPERS) contributed $1 billion the Blackstone Real Estate Debt Strategies IV (BREDS IV), which closed with $8 billion in late 2020 — making it the largest real estate credit fund ever raised.
BREDS IV will have flexible capital to lend around the globe, and will deploy a variety of investment strategies, including lending, liquid securities, structured solutions to financial institutions, and corporate credit.
CalPERS’ commitment, which closed in September 2020, was filed as an opportunistic strategies program.
The pension fund
