South Dakota commits to Lone Star fund
The South Dakota Investment Council has committed $242.6 million to Lone Star Real Estate Fund IV, according to a spokesperson for the investment council.
The investment was made on behalf of the $10.6 billion South Dakota Retirement System, the $257 million School and Public Lands Fund, the $302 million Dakota Cement Trust, the $503 million Education Enhancement Trust and the Health Care Trust.
This is not the South Dakota Investment Council’s first time investing with Lone Star. The $13 billion council committed $150 million to Lone Star Real Estate Fund III in 2013 for the South Dakota Retirement System.
Fund IV, managed by Lone Star Funds, will invest in debt and distressed properties globally and has received investments from the $44.7 billion Teachers’ Retirement System of the State of Illinois, the $8.5