Michigan Retirement Systems commits $75m to real estate

The $69.4 billion Michigan Retirement Systems has made two more capital commitments to real estate totaling $75 million.

The system committed $50 million to Asana Partners Fund II, managed by Asana Partners, and $25 million to Core Property Index Fund, managed by Investors Diversified Realty.

The system was not available to comment on its fundraising efforts.

Asana Partners Fund II is a fully discretionary fund, targeting a range of retail real estate investment opportunities in high-growth urban and infill neighborhoods across the United States. The fund invested on behalf of corporate pension funds, endowments, family offices, foundations, foreign institutions, insurance companies and public pension funds.

The fund held a final close in April, meeting its target of $800 million.

Launched in 2018, the Core Property Index Fund is reportedly one of the