Investors - MARCH 15, 2016

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PSERS commits $306m to real estate

by Zoë Wolff

The $47.7 billion Pennsylvania Public School Employees’ Retirement System has committed $306.2 million to two real estate funds, according to recent meeting documents.

The pension plan committed up to $200 million to Brookfield Strategic Real Estate Partners II. The fund will invest in real estate primarily in North America, Europe, Brazil and Australia. The fund is seeking to raise $7 billion. PSERS previously committed $200 million to Brookfield Strategic Real Estate Partners I, the fund’s predecessor, in 2012.

The pension fund also committed £75 million ($106.2 million) to Pramerica Real Estate Capital VI. The fund, managed by Pramerica Real Estate Investors, which operates as Prudential Real Estate Investors in the Americas, South Korea and Japan, is seeking to raise £1 billion ($1.39 billion). The fund will target lending opportunities in core and core-plus assets, as well as preferred equity positions in office, retail, industrial

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