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Pennsylvania Employees commits $100m to Ares U.S. real estate fund
Investors - DECEMBER 14, 2023

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Pennsylvania Employees commits $100m to Ares U.S. real estate fund

by Lewis Dayton

The Pennsylvania State Employees’ Retirement System (PennSERS) has committed $100 million to Ares U.S. Real Estate Opportunity Fund (AUSREOF) IV.

AUSREOF IV is seeking to raise $3 billion and will invest opportunistically in real estate in the United States, through pursuing distressed and special situations, enhancing and repositioning assets and portfolios and through developing core-quality assets.

The fund has a target allocation of 35 percent to multifamily and adjacencies (such as single-family rental, student housing and senior housing), 25 percent to industrial, 10 percent to hospitality, 10 percent to triple-net lease and 20 percent to other sectors, such as life sciences, office and retail.

PennSERS has a target allocation of seven percent of its total portfolio for real estate investments. As of Sept. 30, PennSERS had 7.4 percent of its portfolio allocated toward real estate investments.

For more information about this commitment or other fun

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