The State Universities Retirement System (SURS) has approved a $50 million commitment to Blackstone’s third Asian opportunistic real estate fund, Blackstone Real Estate Partners Asia Fund III (BREP Asia III).
SURS previously invested in two Blackstone real estate funds, Blackstone Real Estate Partners Europe Fund VI and the open-end core-plus Blackstone Property Partners.
The fund’s predecessor, BREP Asia II, closed in 2018 with $7.1 billion of capital commitments.
