Florida Retirement System commits nearly $600m to real estate during second quarter

The State Board of Administration (SBA) of Florida re-upped with five existing real estate managers for the Florida Retirement System (FRS) Trust Fund during the second quarter of 2021, according to a recent manager report.

Florida unveiled more than $583 million in new real estate commitments to a list of managers that includes Invesco Investment Management, Heitman, Carlyle Realty Partners and DWS.

The largest commitment was $200 million to Heitman Global II, followed by $150 million to Carlyle Property Investors, $118 million to RREEF Core Plus Industrial (managed by DWS), $75 million to Heitman Value Partners V and $40 million to Invesco Strategic Opportunities III Co-investment.

All of these were existing managers for the pension fund.

In addition, the pension fund terminated Invesco Global REIT during the second quarter o