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North Carolina commits $300m to real estate

by Jody Barhanovich

The $89 billion North Carolina Retirement Systems has committed $300 million to two noncore real estate funds, according to a performance review document.

The pension fund committed $200 million to Rockwood Development Partners, a value-added, opportunistic fund managed by Rockwood Capital. The closed-end fund will focus its investments in U.S. unconstrained property. North Carolina previously committed $90 million to Rockwood Capital Real Estate Partners Fund VI in 2005 and $125 million to Rockwood Capital Real Estate Partners Fund VII in 2016.

The pension fund also committed $100 million to Crow Holdings Retail Fund II, a value-added fund managed by Crow Holdings Capital Partners. The closed-end fund will focus its investments in U.S. retail property. North Carolina previously committed $100 million to Crow Holdings Realty Partners V in 2008 and $100 million to Crow Holdings Realty Partners V in 2006.

In October 2014, North Carolina Retirement

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