The North Dakota Retirement and Investment Office has committed $85 million to PRISA III, a program of PGIM Real Estate. This commitment was made in late December 2024, according to meeting materials.
PRISA III is a value-added, open-end fund that invests in diversified properties in the United States. It has a fundraising goal of $5 billion.
The North Dakota Retirement and Investment Office is a public pension fund. As of June 30, 2024, it had $33.4 billion in total assets under management, with an 18 percent target allocation to real assets.