The $39.9 billion Pennsylvania State Employees’ Retirement System (SERS) has invested $100 million in Blackstone Real Estate Partners X.
The fund is on course to be one of the largest private equity real estate funds. It has received backing from several other public pension funds, recently reported by IREI.
Blackstone Real Estate Partners X launched in May to invest in diversified property types globally. A fundraising target could not be determined at the time of publication, however, the opportunity fund’s predecessor, Blackstone Real Estate Partners IX (BREP IX), reached a final close in 2019 with a record $20.5 billion of capital commitments.
