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Sign in Sign up for a FREE subscriptionLACERA puts $600m in Blackstone, Brookfield funds
The Los Angeles County Employees Retirement Association (LACERA) unanimously has approved $600 million of investments with two high-profile real estate real estate managers.
The pension fund put $300 million each in the opportunistic Blackstone Real Estate Partners X and Brookfield Strategic Real Estate Partners (BSREP) IV funds, according to a recent investment report.
Blackstone Real Estate Partners X is a private real estate fund that invests in the growth segment globally, with a primary focus in the United States and Canada. BREP X is the latest in the series of Blackstone’s global flagship real estate funds. The fund will construct a diversified portfolio of real estate and real estate-related assets globally. In July, the fund surpassed $24.1 billion on its way to reaching an estimated target of $30.3 billion when it is finalized, according to th
