Michigan pension fund places $250m in Blackstone and Warwick Investment Group

The Michigan Office of Retirement Services has disclosed $250 million of commitments to opportunistic real estate funds managed by Blackstone and Warwick Investment Group.

The lion’s share of the investment — $200 million — went to Blackstone Real Estate Partners X (BREP X), the latest in Blackstone’s series of global flagship real estate funds. BREP X will make diversified investments in opportunistic real estate and real estate–related investments primarily in the United States and Canada. The fund is said to be targeting $30.3 billion, according to The Wall Street Journal.

The remaining $50 million went to Warwick U.K. Real Estate Fund I, an opportunistic vehicle managed by Warwick Investment Group. The fund is located in Oklahoma City and invests in the United Kingdom, according to Pitchbook. As of June 30, the vehicle had raised more than $35 million against an unknown target, according to an