The State of Wisconsin Investment Board (SWIB) has committed $250 million to two real estate funds, according to a spokesperson for the pension fund.
SWIB invested $150 million in the Hudson Single-Family Rental Fund and $100 million in the Penwood Select Industrial Fund VI. Both are existing managers for SWIB.
Hudson Single-Family Rental Fund, an open-ended value-add residential real estate fund managed by Hudson Advisors, opened to investors in March and will target properties in the United States. SWIB has invested with affiliates of the manager in the past.
In addition, Penwood Select Industrial Fund VI, a closed-end, value-added fund managed by Penwood Real Estate Investment Management, opened to investors in January. The vehicle will invest in industrial properties in the United States. SWIB previously committed $75 million to Fund IV and $100 million to Fund V, respectively.
SWIB has a 7 percent allocation to real estate, against an 8 percent targe
