New York State Teachers’ Retirement System (NYSTRS) has committed $550 million to two real estate funds.
IREI understands NYSTRS made a $300 million investment in the Blackstone BioMed Life Science Real Estate fund, a perpetual life sciences fund managed by Blackstone; and a $250 million investment in GCM CRE Opportunity Partnership, a separate account relationship with GCM Grosvenor.
Blackstone BioMed Life Science Real Estate fund, a specialty niche fund focused on U.S. life science properties, had raised $7.5 billion in capital commitments as of October 2020. NYSTRS joins the 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.
Reportedly, GCM CRE Opportunity Partnership was opened this month with a diversified investment strategy, focused in the United States.
NYSTRS could not be reached to comm
