The District of Columbia Retirement Board (DCRB) has approved an initial commitment of up to $100 million to the open-ended Blackstone Property Partners, a core real estate fund managed by Blackstone Group.
The strategy was launched in 2014 and had raised more than $10 billion as of August 2020, according to news reports. The investment focus includes warehouses and production studios for digital content creators.
As of December 2020, DCRB had a 6 percent allocation to real estate, representing a portfolio valued at $595 million.
