Houston Firefighters commits $25m to real estate
The $4.2 billion Houston Firefighters’ Relief and Retirement Fund has committed $25 million to Brookfield Strategic Real Estate Partners III, according to Ajit Singh, chief investment officer for the pension fund.
Brookfield Strategic Real Estate Partners III, managed by Toronto-based global alternative asset manager Brookfield Asset Management, is a global real estate fund. The fund recently raised $9.046 billion, coming in just shy of reaching the $10 billion mark. It has also previously received equity commitments from the Seattle City Employees’ Retirement System, the State Universities Retirement System of Illinois and the Teacher Retirement System of Texas.
The fund’s predecessor, Brookfield Strategic Real Estate Partners II, raised $9.0 billion and closed in 2016. The first fund in the series, Brookfield Strategic Real Estate Partners I, raised $4.4 billion and c