Virginia Retirement System invests in Asia-focused fund

The $76 billion Virginia Retirement System has committed $150 million to Blackstone Real Estate Partners Asia II managed by Blackstone.

Blackstone Real Estate Partners Asia II is currently fundraising, and the fund has raised $4.89 billion as of October 2017. Blackstone Real Estate Partners Asia II launched in first quarter 2017. The fund will invest in warehouses and shopping malls in China, India, Southeast Asia and Australia.

Other investors include the $36.2 billion Illinois Municipal Retirement Fund, the $85 billion Minnesota State Board of Investment and the $11.2 billion South Dakota Investment Council.

Blackstone’s first Asia-focused property fund, Blackstone Real Estate Partners Asia, held a $5.08 billion final close in 2014.