The $49.5 billion Tennessee Consolidated Retirement System has committed $150 million to Blackstone Real Estate Partners IX, according to Shelli King, communications director for the retirement system.
Blackstone Real Estate Partners IX is the firm’s largest property fund to date, seeking to raise $20 billion. It is a new global opportunistic real estate fund that will invest in major property types.
The fund has also recently received equity commitments from the New Mexico State Investment Council, the Minnesota State Board of Investment and the Illinois Municipal Retirement Fund.
The previous fund in the series, Blackstone Real Estate Partners VIII, held a $15.8 billion final close in 2015.
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