Investors - DECEMBER 6, 2016

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NYSCRF commits $200m to European debt fund

by Jody Barhanovich

The $197.88 billion New York State Common Retirement Fund has committed $200 million to Pramerica Real Estate Capital VI, managed by PGIM Real Estate, according to an October transactions report.

Pramerica Real Estate Capital VI is a closed-end, value-added fund that invests in mezzanine debt secured by office, healthcare, hotel, industrial, multifamily and retail properties in major Western European markets, with a specific focus on the United Kingdom and Germany. Investments will be made to finance acquisitions, refinance existing debt or in single-loan acquisitions.

The firm had raised £300 million ($381.58 million) for Pramerica Real Estate Capital VI as of June, and hopes to raise £1 billion ($1.26 billion) in equity commitments.

NYSCRF has invested in numerous real estate funds during 201

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