South Dakota puts $400m toward Blackstone and Rockpoint funds

The South Dakota Investment Council has committed a total of up to $400 million to Blackstone and Rockpoint real estate funds, according to board meeting documents.

South Dakota allocated up to $300 million to Blackstone Real Estate Partners IX and up to $100 million to Rockpoint Real Estate Fund VI.

Blackstone Real Estate Partners IX, managed by Blackstone Group, has raised $17.3 billion of a targeted $20 billion so far. The fund’s strategy will be similar to the firm’s prior real estate fund, Blackstone Real Estate Partners VIII, which South Dakota committed another $300 million to in 2015. The previous fund gathered $15.8 billion that same year and focused on distressed properties globally. Along with nearly $10 billion raised for each of its opportunistic European real estate and its private equity secondaries funds, Blackstone expects to exceed $60 billion from t