Oregon State Treasury commits $250m to Prologis U.S. fund

The Oregon State Treasury investment council has committed $250 million to the $6.9 billion Prologis Targeted U.S. Logistics Fund, an open-end core real estate fund.

The investment was awarded on May 1 on behalf of the $75 billion Oregon Public Employees Retirement System. The commitment was five times the size of the one other commitment the fund collected this year.

San Francisco–based Prologis acquires industrial properties near airports, seaports and highway systems in major U.S. metropolitan areas.

Last year, the Oregon investment council approved four real estate commitments, totaling $750 million.

The Oregon Public Employees Retirement Fund has real estate assets of $8.2 billion, representing 10.8 percent of total assets under management. It has a target allocation to the asset class of 12.5 percent.