Investors - SEPTEMBER 26, 2016

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South Carolina commits $150m to Greystar fund

by Jody Barhanovich

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.

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