Investors - JUNE 2, 2016

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CalSTRS commits $311m to real estate

by Zoë Wolff

The $180 billion California State Teachers’ Retirement System committed $311 million to two real estate funds during first quarter 2016, according to a recently released transaction report.

The pension fund committed €100 million ($111 million) to Blackstone Real Estate Partners Europe V. The fund, managed by The Blackstone Group, focuses on office, multifamily, hotel, retail and logistics properties primarily in Western Europe, but also in Southern Europe and Scandinavia. The fund, which is seeking to raise $7 billion, had raised $3.8 billion as of March.

CalSTRS also committed $200 million to Belay Partnership Ventures II, managed by Belay Investment Group. Belay deploys capital exclusively through nondiscretionary programmatic joint venture structures. The value-added fund held a

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