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Sign in Sign up for a FREE subscriptionMaine PERS invests $200m in open-ended Hines U.S. Property Partners vehicle
Maine Public Employees Retirement System (PERS) has put $200 million into Hines U.S. Property Partners (HUSPP), Hines’ new flagship commingled fund for the United States, according to a recent board meeting document.
HUSPP, an open-ended, diversified fund targeting next-generation assets in top-performing submarkets in major U.S. markets, opened to investors weeks ago with $750 million of equity. That number included a $100 million investment from Hines, giving the fund more than $1.2 billion in immediate investment capacity.
HUSPP expects to invest across the living, industrial, office and mixed-use sectors, as well as select niche sectors, such as life sciences and self-storage, to construct a diversified portfolio that targets a balance of yield an