The Pennsylvania Public School Employees’ Retirement System (PSERS) has committed up to $200 million to Carlyle Realty Partners IX, an opportunistic fund managed by The Carlyle Group.
The fund opened to investors in January and has a fundraising target of $6 billion, IREI understands.
Carlyle Realty Partners IX invests exclusively in residential and commercial real estate in the United States. The fund will focus on multifamily, single-family rental, active adult/age-restricted housing, life science office and industrial assets ranging from $10 million to $40 million.
According to a recent investment document from PSERS, the commitment was approved on March 5.