New York pension fund commits capital to multiple real estate funds

The New York State Common Retirement Fund (NYCRF) recently has made several commitments to real estate funds.

In May, the fund committed $10 million to the BIG Real Estate Fund I, a fund managed by Basis Investment Group, which has an investment strategy primarily focused on debt and structured equity. It has raised $410 million against a target of $500 million.

NYCRF also invested around $300 million in Blackstone Real Estate Partners Europe VI in May. The opportunistic fund managed by Blackstone is seeking to raise approximately $9 billion.

Additionally, the pension fund committed $300 million to the Asana Partners Select Retail Fund (SRF) managed by Asana Partners, a vertically integrated, retail-focused real estate investment firm.

Asana has a “fund of one” strategy and focuses on core and core-plus retail assets in top urban and near-urban locations throughout the United States.

The investment closed on April 8 and was funded from short-te