Investors - SEPTEMBER 18, 2017

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Texas Permanent commits $75m to Blackstone’s Asia-focused fund

by Jody Barhanovich

The $32.5 billion Texas Permanent School Fund has committed $75 million to Blackstone Real Estate Partners Asia II, according to a webcast of the Committee on School Finance/Permanent School Fund meeting on Sept. 14.

Blackstone Real Estate Partners Asia II is a newly launched Asia-focused real estate fund with a $5 billion equity fundraising target. The fund, which is managed by Blackstone, will invest in warehouses and shopping malls in China, India, Southeast Asia and Australia.

The fund previously received a $100 million commitment from the $36.2 billion Illinois Municipal Retirement Fund.

The fund’s predecessor, Blackstone Real Estate Partners Asia, held a $4.8 billion final close in December 2014.

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