Minnesota State Board of Investment (SBI) has approved up to $300 million in capital commitments to two real estate funds, according to a recent private markets investment report.
The pension fund has earmarked $200 million for Brookfield Real Estate Finance Fund VI, a private credit fund run by Brookfield Asset Management, and $100 million for the Lubert-Adler Recovery & Enhancement Capital Fund, a value-add real estate fund run by Lubert-Adler.
Brookfield Real Estate Finance Fund VI will target mezzanine debt investments in the United States. The fund is seeking to raise $3 billion in capital commitments.
The Lubert-Adler Recovery & Enhancement Capital Fund opened in September 2020 with a fundraising target of $600 million, according to a
