Investors - APRIL 16, 2015

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South Dakota commits $334m to Blackstone fund

by Zoe Loza

South Dakota Investment Council has made a commitment of $300 million to Blackstone Real Estate Partners Fund VIII on behalf of the South Dakota Retirement System, according to Matt Clark, state investment officer for the council.

The council also made commitments totaling to $33.7 million to the Blackstone fund on behalf of the Educational Enhancement Trust Fund, Dakota Cement Trust Fund, School and Public Lands Fund, and Health Care Trust Fund.

“We chose to invest in Fund VIII because we have experienced excellent results from the past funds and we have great confidence in Blackstone,” says Clark. SDIC has been investing in Blackstone real estate funds since Fund I.

Blackstone Real Estate Partners Fund VIII is an opportunistic fund that plans to invest in a variety of property types including multifamily, senior housing, student housing, and suburban office space.

The mega-fund, which has

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