To read this full article you need to be subscribed to Newsline.
Sign in Sign up for a FREE subscriptionState of Michigan commits $310m to infrastructure, real estate funds
The $62 billion State of Michigan Retirement Systems committed $310 million to three infrastructure and real estate funds in the quarter ending Sept. 30.
The first commitment was a $200 million allocationto Lone Star Fund X, managed byLone Star Funds. The fund held a$5.6 billion final closing in November, exceeding its $5 billion equity fundraising target. The fund is one of several global mega-funds (defined as a fund targeting equity commitments of more than $1 billion) in the market, according to IREI’s FundTracker database. The opportunistic fund will invest in distressed debt secured by properties in the United States, Europe and Japan.
The mega-fund follows Lone Star Fund IX, which closed in 2014 with $7.2 billion in capital commitments. Lone Star Fund IX invested in financial and other investment asse
