NYSCRF pours more than $500m into real estate

New York State Common Retirement Fund (NYSCRF) has disclosed more than $500 million in new real estate investments for the month of June.

The pension fund committed £200 million ($257 million) to PGIM Real Estate Capital VII (PRECap VII), the latest in a series of European mezzanine debt and preferred capital commingled closed-end funds formed by PGIM; and €200 million ($234 million) to Exeter Europe Industrial Core, a closed-end, commingled, industrial real estate fund managed by Exeter Property Group.

In addition, NYSCRF allocated $100 million for AEPEP III N Strategic Co-Invest, a co-investment partnership to be invested alongside Ares European Property Enhancement Partners III at the pension fund’s discretion. Ares European Property Enhancement Partners III is a closed-end, diversified European commingled real estate fund that NYSCRF closed on March 31.

The three investments closed in June.

NYSCRF invests with real estate opportunity funds, affor