Investors - SEPTEMBER 7, 2016

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CalSTRS commits $900m to real estate funds

by Jody Barhanovich

The $180 billion California State Teachers’ Retirement System committed $900 million to four real estate funds.

CalSTRS committed $300 million to Kildare European Partners II, a closed-end, opportunistic fund that focuses on distressed assets and is currently seeking to raise $2.4 billion. Partners II plans to still invest some capital in the United Kingdom, but will also invest in Germany, The Netherlands, Portugal and Italy.

CalSTRS released its 2016–2017 fiscal year plan during its July 14 meeting, which concluded the pension sees plenty of opportunities in the United Kingdom.

CalSTRS’s commitment represents its continued relationship with Kildare. In 2014, the pension fund committed $54.5 million to Kildare European Partners I.  Partners I closed in May 2014 with $2 billion in equity commitme

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