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New Jersey commits $100m to European real estate fund

by Zoë Wolff

The $79.2 billion New Jersey Division of Investment has committed €90 million ($101.6 million) to PW Real Estate Fund III, according to board meeting documents. The fund, managed by PW Real Assets, formerly Perella Weinberg, targets properties in France, Germany, Ireland, Portugal, Spain and the United Kingdom, as well as Central and Eastern Europe. The opportunistic fund is seeking to raise €1.5 billion ($1.7 billion). New Jersey previously committed $96 millionto Perella Weinberg Real Estate Fund II in 2013.

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