PSERS invests $200m in real estate
The $50.4 billion Pennsylvania Public School Employees’ Retirement System has committed $100 million each to two separate funds.
PSERS invested in Ares European Real Estate Fund IV, managed by Ares Management. The value-added fund launched in 2013 with a €750 million target. It will invest in Central, Eastern and Western Europe. According to a September 2013 SEC filing, the firm has raised $427.3 million.
The second commitment was to Carlyle Realty Partners VII, managed by The Carlyle Group. The opportunistic fund has a $4 billion fundraising target. The CRP funds target opport