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Sign in Sign up for a FREE subscriptionMinnesota SBI commits $400m to real estate
The $70 million Minnesota State Board of Investment has committed a total of $400 million to two real estate funds, according to board meeting documents.
The first commitment was $300 million to Blackstone Real Estate Partners IX, managed by Blackstone. It is the firm’s latest global opportunistic real estate fund that will invest in major property types. The previous fund in the series, Blackstone Real Estate Partners VIII, in which MSIB made a $150 million commitment, held a $15.8 billion final close in 2015.
The second commitment was $100 million to Realty Associates Fund XII, managed by TA Associates Realty. The firm’s value-add strategy invests in four property types throughout the United States: office, industrial, multifamily and retail.
