Investors - OCTOBER 14, 2021

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New Jersey Division of Investment slates $300m for Hammes, TPG real estate funds

by Kali Persall

The New Jersey Division of Investment approved $300 million of commitments to two real estate funds at its Sept. 17 State Investment Council meeting.

New Jersey will invest $150 million each in Hammes Partners IV, managed by Hammes Partners, and TPG Real Estate Thematic Advantage Core-Plus JV, managed by TPG Real Estate Partners.

Hammes is solely focused on healthcare real estate and has been ranked as a top developer of healthcare facilities, according to a meeting document from September. The firm acquires or develops high-quality medical office buildings, ambulatory care centers and ambulatory surgery centers, with tenants ranging from major hospitals to healthcare systems and large independent physician groups. Hammes currently manages 3 million square feet of healthcare real estate assets. The firm has $1.286 billion in assets under management and follows a noncore real estate strategy.

TPG, one of the largest, global private investment platforms, pursues s

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