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- October 1, 2024: Vol. 36, Number 9

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Virginia Retirement System backs Carlyle, Affinius Capital real estate funds

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The Virginia Retirement System has committed nearly $200 million to two real estate funds, according to its latest investment report.

The pension fund invested $150 million in Carlyle Realty Partners X, a closed-end fund investing in diversified, opportunistic real estate in the United States, and $45 million in Affinius U.S. Eagle Real Estate Fund, an open-end fund investing in diversified, enhanced core real estate in the United States.

Carlyle Realty Partners X, managed by The Carlyle Group, opened to investors in January and is seeking to raise $8 billion. The fund will focus on demographic- and technology-driven sectors such as residential, self-storage and industrial, according to the IREI.Q database. It may invest up to 5 percent of its capital outside of the United States and Canada.

The open-end U.S. Eagle Real Estate Fund, managed by Affinius Capital, opened in 2012 and primarily invests in office, multifamily, retail and industrial sectors in the Unit

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