The State Board of Administration of Florida (SBA) has committed $375 million to three real estate funds, including Asana Partners Fund IV, FPA Core Plus Fund VI and PRISA III.
Asana Partners Fund IV, a vehicle of Asana Partners, received $100 million for its closed-end, value-added strategy that invests in street front retail in above-average household income neighborhoods in the United States. The fund aims to raise $1.5 billion. Asana Partners Fund III, its predecessor, raised $1.5 billion in equity, meeting its initial goal. The New Mexico State Investment Council invested $150 million to this fund in April.
FPA Multifamily’s Core Plus Fund VI received $100 million. This fund is a closed-end, core-plus fund targeting properties in the United States, with a $1.3 billion fundraising goal. Its predecessor, FPA Core Plus Fund V, raised $970 million in equity.
