PSERS commits $100m to debt fund
The $51.2 billion Pennsylvania Public School Employees’ Retirement System has committed up to $100 million to Blackstone Real Estate Debt Strategies III, according to recent meeting documents.
The real estate debt fund managed by The Blackstone Group has a similar strategy to its predecessor, Blackstone Real Estate Debt Strategies II, which invested in mezzanine loans and whole loans. Fund II held a final close in August 2013 after raising $1.74 billion.
Fund III is seeking to raise $4 billion in equity commtiments. The fund recently received commitments from the