NYSCRF commits $300m to Blackstone fund
The $197.8 billion New York State Common Retirement Fund has committed $300 million to Blackstone Real Estate Debt Strategies III, according to documents on the pension fund’s website.
Blackstone Real Estate Debt Strategies III, managed by The Blackstone Group, invests in mezzanine debt and whole loans. The fund opened in October 2015 with a $4 billion equity fundraising target. Since then, the fund has raised $4.5 billion in equity commitments. The fund held a first close of $2.05 billion in March 2016 and raised $3.7 billion in June 2016.
The fund has received commitments from the $85.4 billion