The $56.7 billion Pennsylvania Public School Employees’ Retirement System has committed up to $700 million to two real estate funds, according to Evelyn Tatkovski Williams, press secretary for PSERS.
The first commitment was up to $400 million to TCI Real Estate Partners Fund III. The second was up to $300 million to Brookfield Strategic Real Estate Partners III.
TCI Real Estate Partners Fund III is managed by U.K.-based investment manager Children’s Investment Fund Management. It is a closed-end real estate vehicle that will invest in debt secured by properties globally. The fund’s predecessor, TCI Real Estate Partners Fund II, held a $1.9 billion final close in 2017.
The second fund, Brookfield Strategic Real Estate Partners III, is managed by Toronto-based alternative asset manager Brookfield Asset Management. It is a global real estate fund. The fund’s predecessor, Brookfield Strategic Real Estate Partners II, raised $4.4 billion and closed in 201
