To read this full article you need to be subscribed to Newsline.
Sign in Sign up for a FREE subscriptionTexas ERS commits $100m to Brookfield Strategic Real Estate Partners IV
The Employees’ Retirement System (ERS) of Texas has disclosed a new commitment to a private real estate fund.
The $100 million investment went to Brookfield Strategic Real Estate Partners IV (BSREP IV), managed by Brookfield Asset Management.
BSREP IV is a $17 billion real estate fund that opened to investors in May. The fund will target investment opportunities in property assets and real estate operating companies in North America, Brazil, Europe and Australia.
BSREP IV is on track to become the firm’s largest real estate fund to date, surpassing the predecessor fund, which raised $15 billion in equity commitments.
Other recent investors include the Illinois State Universities Retirement System, the Los Angeles City Employees Retirement System, the Seattle City Employees’ Retirement System and the Minnesota State Board of Investment.