Investors - MAY 2, 2017

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NYSCRF commits $550m to real estate funds

by Jody Barhanovich

The $198 billion New York State Common Retirement Fund has committed $550 million to two real estate funds, according to its March board meeting documents.

NYSCRF committed $350 million to UBS Trumbull Property Fund and $200 million to GreenOak U.S. Parallel III-A.

The first fund, UBS Trumbull Property Fund, is an open-end real estate fund focused on core assets in major U.S. markets. The fund invests in office, retail, multifamily and industrial assets throughout the United States. The fund has received recent commitments from other pension funds as well, including $100 million from the $29 billion Alaska Retirement Management Board and $105 million from the $14.9 billion Arkansas Teacher Retirement System.

The second fund, GreenOak U.S. Parallel III-A, is a parallel fund of GreenOak U.S. III, a real estate fund managed by GreenOak Real Estate.

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