The $78.1 billion State of Michigan Retirement System has invested $200 million in a debt joint venture with Rialto Capital Management.
The joint venture will invest in U.S. real estate debt backed by office, industrial, retail and apartment properties. The investment is part of the retirement system’s newly approved $310 million real estate plan.
This is the pension fund’s second investment with Rialto this year. The retirement system previously invested $50 million in Rialto Real Estate Debt Fund III.
As of Dec. 31, 2015, MPSERS had 10.2 percent invested in real estate and infrastructure.
