The North Carolina Retirement Systems has committed $700 million to real estate funds in November, including vehicles managed by LBA Realty, Northpond Partners and Benefit Street Partners.
Managed by LBA Realty, the North Carolina Retirement System Separate Account received $300 million for its core strategy. This fund aims to invest in industrial real estate with a focus on logistics and infilling in the United States. A fundraising target has not been disclosed.
Northpond Retail Partners received $200 million for its value-added strategy which aims to acquire unanchored neighborhood retail centers with an initial focus on the Southeast and Sunbelt markets of the United States. This is a follow-on commitment, as North Carolina previously committed $200 million to this fund in February 2024.
Benefit Street Partners Real Estate Opportunistic Debt Fund II, a closed
