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Investors - APRIL 1, 2021

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NYSCRF commits $300m to Blackstone life science fund

by Kali Persall

The New York State Common Retirement Fund (NYSCRF) has unveiled several new commitments to real estate and infrastructure.

The biggest commitment was $300 million to Blackstone BioMed Life Science Real Estate Partners, a commingled real estate fund managed by Blackstone.

Blackstone BioMed Life Science Real Estate fund is a specialty niche fund focused on U.S. life science properties. The perpetual life vehicle had raised $7.5 billion in capital commitments as of October 2020.

This is an existing relationship for the NYSCRF.  The pension fund joins the New York State Teachers’ Retirement System, Indiana Public Retirement System, the New Mexico State Investment Council, Alecta Pensionsforsakring, Texas Permanent School Fund and Tennessee Consolidated Retirement System as recent investors in the vehicle.

NYSCRF also committed $15 million each to the Mandrake Capital Real Estate Fund and Brasa Credit II through the Empire GCM RE Anchor Fund, advised by GCM

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