The $51.7 billion Teachers’ Retirement System of the State of Illinois has committed a total of $500 million to Blackstone and Rockpoint Group real estate funds, according to Dave Urbanek, director of communications for the retirement system.
The two commitments comprise $300 million to Blackstone Real Estate Partners IX and $200 million to Rockpoint Real Estate Fund VI.
Blackstone Real Estate Partners IX recently completed raising $17.3 billion of a targeted $20 billion for the opportunistic real estate fund. BREP IX’s strategy will be similar to the firm’s prior real estate fund, which gathered $15.8 billion in 2015 and focused on distressed properties globally. Along with nearly $10 billion for each of its opportunistic European real estate and its private equity secondaries funds, Blackstone expects to exceed $60 billion from these four flagship funds collective
