Illinois State Universities Retirement commits $75m to Brookfield fund

The State Universities Retirement System of Illinois (SURS), with $22.6 billion of assets under management, has committed $75 million to Brookfield Strategic Real Estate (BSREP) V.

Managed by Brookfield Asset Management, BSREP V has a fundraising target of $15 billion and will opportunistically invest in diversified sectors globally. Bruce Flatt, Brookfield’s CEO, said during the company’s recent second quarter earning’s call, “The combination of the pockets of stress in capital markets and strong underlying fundamentals with constraint and supply will lead to the best environment we’ve seen since 2009 to execute on our long-standing investment strategy for real estate, which is to buy high-quality assets for value and drive upside through active asset management.”

SURS had invested in the three prior BSREP vintages as well, with commitments of $75 million to BSREP IV in 2022, $35 million to BSREP III in 2019 and $35 million to BSREP II in 2016.

BSRE