Maryland State Retirement and Pension System backs Asana, Carmel, Heitman funds

The Maryland State Retirement and Pension System (MSRPS) has committed to three real estate funds as of late.

The investments include $100 million to Asana Partners Fund III, $100 million to Carmel Partners Investment Fund VIII and $25 million to a co-investment associated with Heitman Value Partners V.

Asana Partners Fund III will follow a value-add strategy focused on unique street-front retail within high-growth walkable neighborhoods in the United States. The fund will target areas containing strong demographics, high educational attainment and above-average household income.

In November 2021, the fund had secured $750 million against a fundraising target of $1.5 billion, according to a filing with the SEC.

A spokesperson for MSRPS said Asana is a new manager for the pens