Minnesota SBI approves $125m commitment to AG Europe Realty Fund IV

The Minnesota State Board of Investment board approved a commitment of $125 million to AG Europe Realty Fund IV at its meeting on May 21.

Managed by TPG Angelo Gordon, AG Europe Realty Fund IV is a closed-end fund that is focused on investing in industrial, hotels, office, residential, retail, self-storage, and senior and student housing in Denmark, France, Germany, Ireland, Italy, the Netherlands, Norway, Spain, Sweden and the United Kingdom.

As of March 31, 2024, 2.2 percent ($2.05 billion) of the Minnesota SBI’s $92.8 billion portfolio was allocated toward real estate investments.

The Minnesota SBI has invested in past instances of the AG Europe Realty fund series, including a $75 million commitment to AG Europe Realty Fund III in 2019 and a $75 million commitment to AG Europe Realty Fund II in 2017.

For more information about this commitment or