Investors - MAY 6, 2015

Michigan commits $485m to real estate and infrastructure

by Zoë Wolff

The Michigan Department of Treasury, Bureau of Investments, committed $485 million to real estate and infrastructure investments in fourth quarter 2014 on behalf of the $56.3 billion State of Michigan Retirement Systems.

A recently released investment report includes seven real estate and infrastructure investments: $100 million to Invesco Mortgage Recovery Fund II, $100 million to TPG Real Estate Finance Trust, $85 million to Blackstone Energy Partners II, $75 million to Lubert-Adler Real Estate Fund VII, $50 million to Orange Investors, $50 million to Paladin Realty Latin America Investors IV-CI and $25 million to Clarion Gables Multifamily Trust.

The pension fund has a 9.1 percent allocation to real estate, 0.1 percent above its target allocation to the asset class.

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