The New York State Common Retirement Fund (NYSCRF) has committed $10 million to Mandrake Capital Real Estate Fund II (MCREF II) and $10 million to Grandview Joint Venture III (GJV III).
Both commitments were made through the Empire GCM RE Anchor Fund, a partner with NYSCRF in its Emerging Manager Program.
Managed by Mandrake Capital Partners, MCREF II is seeking to raise $400 million and will make investments in the build-to-rent sector and special situation opportunities in the U.S. commercial and residential real estate markets.
GJV III is managed by Grandview Property Partners and will make investments in industrial and residential opportunities across the United States.
NYSCRF has existing relationships with both managers, having committed $15 million to Grandview II in March 2023 and $15 million to Mandrake Capital Real Estate Fund in February 2021.
For more information about these commitments or other funds, please visit our IREI.Q
