South Carolina commits $150m to Greystar fund
The $28 billion South Carolina Retirement System Investment Commission has committed $150 million to Greystar Equity Partners IX, managed by Greystar Real Estate Partners.
The value-added real estate fund will focus its investments in U.S. multifamily properties, according to a South Carolina RSIC webcast and meeting documents.
South Carolina RSIC previously committed $150 million to Greystar Real Estate Partners in November 2014 through a separate account. The investment committee reserved the right to commit an additional $150 million to Greystar Equity Partners IX during the initial 10-year term.
The pension fund has a target real estate allocation of 8.0 percent.