New York State commits $10m to Brasa Real Estate Fund III
The $254 billion New York State Common Retirement Fund (NYSCRF) has committed $10 million to Brasa Real Estate Fund III.
The fund will opportunistically invest in middle-market real estate assets with a focus on industrial, residential and storage properties. Managed by Los Angeles–based Brasa Capital Management, the fund has a target fundraising goal of $850 million.
NYSCRF has an existing relationship with Brasa Capital Management, having invested in past vintages of its Brasa Credit funds, according to data from IREI.Q.
With Brasa Real Estate Fund III, Brasa Capital Management will particularly focus on making investments between $5 million to $35 million in equity on diverse property types within industrial, residential and storage sectors in the western United States and in Texas.
For more information about this commitment or other funds, please visit our IREI.Q dat