The New Jersey Division of Investment (NJDOI) has committed $250 million to Bain Capital Real Estate Fund III, confirmed Kevin Higgins, head of real estate, NJDOI.
Managed by Bain Capital Real Estate, Bain Capital Real Estate Fund III is a closed-end fund that is seeking to invest in life science office/lab space, medical office, senior housing, last-mile industrial, self-storage, affordable housing and media/content creation space.
The fund will primarily invest throughout North America, with a 25 percent limit on non-North American investments. It will execute through programmatic joint ventures with business plans, including physical and operational improvements, as well as some new development.
As of Feb. 29, 5.35 percent ($5.18 billion) of the NJDOI’s $96.8 billion portfolio was allocated toward real estate.
For more information about this commitment or other funds, please visit our IREI.Q database.
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