Michigan commits $100m to real estate in Q3
The $62 billion State of Michigan Retirement Systems committed $100 million to three real estate funds between July 1 and Sept. 30, according to a recent investment report.
The pension fund committed $50 million to TPG Real Estate Partners II during the third quarter. The fund, which held a final close in October, focuses on investments “through corporate carve-outs or spinoffs, public-to-private transactions, private placements, and controlling stakes in private operators.” The fund recently received a commitment from the New Jersey Division of Investment.
Additionally, the pension fund committed $20 million to Eastcorp Properties, a real estate separate account managed by AEW Capital Management, and $