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
