South Carolina commits $100m to real estate fund
The $29.9 billion South Carolina Retirement System Investment Commission has committed up to $100 million to Brookfield Real Estate Finance Fund V, according to LaJoia Broughton, director of external communications.
Brookfield Real Estate Finance Fund V is a value-added real estate fund that will invest in debt secured by U.S. properties, with flexibility to lend up to 20 percent in select countries internationally, and across property types. The fund has raised $2.43 billion so far.
South Carolina is an investor in the prior two funds of this series, BREF III and BREF IV, as well as three other Brookfield funds.
South Carolina has a target allocation to real estate of 7 percent.