Investors - MAY 26, 2017

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Ohio SERS commits $50m to Carlyle fund

by Jody Barhanovich

The $12.7 billion School Employees Retirement System of Ohio has committed $50m to Carlyle Realty Partners VIII, according to board meeting documents.

Carlyle Realty Partners VIII is an opportunistic real estate fund managed by The Carlyle Group. The fund opened in October 2016 with a $5 billion equity fundraising target, the largest target for Carlyle’s U.S. real estate fund series. The fund has raised $2.76 billion so far. The fund series focuses on acquisitions, value enhancements and dispositions of U.S. office, residential, senior housing, hotel and retail properties.

The fund’s predecessor, Carlyle Realty Partners VII, held a $4.2 billion final close in September 2015, while Carlyle Realty Partners VI closed in December 2011 after raising $2.3 billion.

As of March 31, Ohio SERS had a target allocation to real estate of 12 percent and an actual allocation of 15.5 percent.

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