The Michigan Office of Retirement Services (ORS) has committed $75 million to Asana Partners Fund IV as of Sept. 26.
Asana Partners IV, a closed-end, value-added fund with a fundraising goal of $1.5 billion. It invests in street-front retail within affluent neighborhoods of the United States. The New Mexico State Investment Council and State Board of Administration of Florida have committed to this fund in recent months. Asana Partners Fund III, its predecessor, raised $1.5 billion in equity.
ORS, a public pension fund, had $110.4 billion in total assets under management as of March 31, 2025. As of then, it had an 8 percent real estate allocation target with $9.4 billion in total real estate assets.
