South Dakota invests $275m in real estate funds

The South Dakota Investment Council (SDIC) has made two capital commitments of $200 million and $75 million to the Blackstone Real Estate Partners Europe VI Fund and the Lone Star Real Estate Fund VI, respectively.

The commitments were approved at the pension fund’s April 18 board meeting.

Blackstone Real Estate Partners Europe VI Fund, managed by Blackstone, is a European opportunistic real estate fund that invests in office, multifamily, retail, hotel and logistics properties across the globe.

It launched this year with an €8 billion ($9 billion) equity fundraising target and has received at least eight commitments since.

Lone Star Real Estate Fund VI is the sixth real estate investment vehicle managed by Lone Star Funds. It launched last year with a target of $4.5 billion and has received at least four other capital commitments since February.

As of June 2018, SDIC had $15 billion assets under management, with a 7.5 percent ($1.1 billion) al