Illinois TRS commits $100m to Asia real estate fund

The $48.6 billion Teachers’ Retirement System of the State of Illinois has committed $100 million to Blackstone Real Estate Partners Asia II, according to Dave Urbanek, director of communications at the retirement system.

The newly launched Blackstone Real Estate Partners Asia II fund has a $5 billion equity fundraising target. The fund, which is managed by Blackstone, will invest in warehouses and shopping malls in China, India, Southeast Asia and Australia.

BREP II also has received a $75 million commitment from the $85 billion Minnesota State Board of Investment.

Blackstone currently administers $592.4 million in Illinois TRS assets. The pension fund has an allocation to real estate of 14 percent and currently has a $5.6 billion real estate portfolio.

In additional news, Illinois TRS reduced the expe