Wisconsin commits $225m to two real estate funds
The State of Wisconsin Investment Board has committed $75 million to Penwood’s Select Industrial Partners IV. This is the first time SWIB has invested with Penwood. Vicki Hearing, a spokesperson for the pension fund says SWIB likes the Penwood fund for it industrial property focus in a few key markets.
Earlier this month, Penwood received commitments from the Virginia Retirement System and the New York State Teachers’ Retirement System. The fund has raised more than $250 million since it launched in July 2014, and Penwood plans to invest evenly between purchases and development of industrial properties in Southern California and the Port of New York and New Jersey.
SWIB has also made a commitment o