Florida SBA commits $150m to debt fund
The $176.5 billion Florida State Board of Administration has committed $150 million to Carbon Capital VI, a real estate debt fund managed by BlackRock, according to Dennis MacKee, director of communications at the pension plan.
Carbon Capital VI is a closed-end fund that will invest in debt secured by U.S. properties.
FSBA previously committed $150 million to the fund’s predecessor, Carbon Capital V, in 2013. In addition, the pension fund previously committed $25 million to BlackRock Europe Property IV, which focuses on value-added and opportunistic investments in the United Kingdom, France, Germany, Poland, the Nordics, as well as Spain and Italy.
In May 2016, FSBA