California State Teachers’ Retirement System, West Sacramento, made $900 million in new real estate commitments, shows a real estate quarterly report posted on the $193.4 billion system’s website.
The biggest commitments, $300 million each, were to Kildare European Partners II, which will invest in distressed investment opportunities in major markets within Western Europe and is managed by Kildare Partners, and to Lone Star Real Estate Fund V, which will invest in a broad range of distressed investment opportunities in developed markets and is managed by Lone Star Funds.
The other commitments are $200 million to DivcoWest Fund V, which will invest in real estate opportunities in targeted markets with a focus on office and research and development properties; and $100 million to the J.P. Morgan Asia Pacific Property Fund, which will invest in a diversified core portfolio in Asian gateway markets and is managed by J.P. Morgan Asset Management.
The commitments were all made in the quarter ended June 30. The pension fund’s investment managers made the commitments using their delegated authority.