Wyoming State Loan invests in European real estate debt
The Wyoming State Loan and Investment Board has approved a $131 million commitment to M&G Real Estate Debt Fund III (REDF II), a value-added fund managed by M&G Investments, as part of the investment board’s noncore investment strategy plan.
The Wyoming State Loan and Investment Board hopes to take advantage of very attractive pricing in real estate debt investments in Europe.The investment board believes the European real estate debt opportunity is more time-sensitive than equity investment opportunities, similar to the U.S. opportunity in 2010 and 2011, according to investment board documents. However, the investment board believes this opportunity will last a longer period of time (due to shifting regulatory frameworks in Europe) than the relatively short time window provided to invest in U.S. real estate debt after the global financial crisis. Moreover, European real estate debt provides some of