State of Michigan Retirement System (SMRS) has committed €75 million ($84.3 million) to GreenOak Europe III, a closed-end commingled fund managed by Bentall Green Oak.
The fund will target institutional real estate opportunities in Western Europe, with a focus on logistics assets, according to a June investment meeting document.
The Bentall fund is believed to be the first European fund that SMRS has backed. The pension fund could not be reached to comment on its recent investment activity.
Bentall Green Oak completed a final close of its second European fund, GreenOak Europe Fund II, in 2018 with €656 million ($737 million) of equity commitments, exceeding its target of €500 million ($562 million).
SMRS noted the pension fund is focused on sourcing off-market opportunities through its network and reducing risk in the portfolio through early income-gener
