Minnesota SBI mulls $600 million of investments in Carlyle, Brookfield funds

The Minnesota State Board of Investment (SBI) is considering two commitments of $300 million each to the Carlyle Realty Partners IX and Brookfield Strategic Real Estate Partners IV funds, according to a May 17 investment report.

These will be considered private markets investments for Minnesota SBI, if approved at its May 26 meeting.

Carlyle Realty Partners IX, an opportunistic strategy managed by The Carlyle Group, opened to investors in January with a fundraising target of $6 billion. Carlyle Realty Partners IX invests exclusively in residential and commercial real estate in the United States. The fund will focus on multifamily, single-family rental, active-adult/age-restricted housing, life sciences office and industrial assets ranging from $10 million to $40 million. The fund plans to overweight property types including multifamily, age‐restricted apartments, single-family rentals and industria