Investors - JANUARY 10, 2020

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Michigan invests $150m in two real estate funds

by Kali Persall

The State of Michigan investment board has disclosed $150 million in new real estate commitments, according to an investment update from late 2019.

The State of Michigan Retirement Systems is investing $100 million in Invesco Strategic Opportunities III, managed by Invesco Real Estate, and $50 million in AEW Senior Housing Investors IV, managed by AEW. The investments were made through Michigan’s real estate and infrastructure division (REID).

Launched in January 2018, the Invesco Strategic Opportunities III fund is targeting $500 million in capital commitments. Invesco plans to invest half of the fund’s capital in Europe and half in the United States, with a focus on equity, debt and hybrid value-add transactions through the closed-end fund.

Other investors include the Oklahoma Teachers Retirement System

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