New York State Teachers’ Retirement System, Albany, announced $734 million in equity real estate commitments and $435 million in private equity commitments, a spokesman confirmed.
NYSTRS on Thursday reported it had committed $200 million to Brookfield DTLA Holdings, managed by Brookfield Office Properties; $200 million to Blackstone Real Estate Partners Asia, managed by Blackstone Group; €147.6 million ($199 million) to Blackstone Real Estate Partners Europe IV; $100 million to Exeter Industrial Value Fund III, run by Exeter Property Group and $35 million to Lone Star Real Estate Fund III.
John Cardillo, a spokesman for the pension fund, said in an e-mail Friday that the Brookfield fund focuses on office properties primarily in the Los Angeles area and Lone Star’s fund invests in a “wide range of commercial real estate distressed investments, primarily in the U.S. and Europe.”
The Exeter fund specializes in “big-box warehouses and multitenant logistics properties in locations that serve major U.S. markets,” Mr. Cardillo wrote. The Blackstone Asia fund invests in “assets across Asia focusing on opportunities in both emerging and developed markets.”
Mr. Cardillo wrote that the pension fund previously committed $360 million with Brookfield Office Properties; $125 million with two other Exeter funds; $221 million to three other Blackstone Real Estate funds; and $585 million to six other Lone Star funds.
Separately, the pension fund made a $5 million investment during the quarter ended Dec. 31 with Donahue Schriber Realty Group, according to documents presented to the board.
Mr. Cardillo wrote that the pension fund previously invested $255 million with Donahue Schriber, which he described as a real estate investment trust that “focuses on shopping centers on the West Coast.” The pension fund owns 43% of the common equity, he wrote.
Private equity commitments were $125 million to Energy Capital Partners III; $100 million each to GTCR Fund XI and CVC Capital Partners Asia Pacific IV; $35 million to Lightspeed Venture Partners X; and $25 million each to FirstMark Capital III, General Catalyst VII, and Lightspeed Venture Partners Select Fund I.
Mr. Cardillo could not provide details because the commitments “are in various stages of due diligence or contract negotiations.”