South Dakota Investment Council, Pierre, made two new real estate commitments totaling $400 million, confirmed Tammy Otten, assistant investment officer, in an email.
The council approved committing $300 million to Blackstone Real Estate Partners IX, an opportunistic real estate fund. The commitment amounts, by the funds whose investments the council oversees, was: $270 million from the $12.2 billion South Dakota Retirement System, $13 million from the $603 million Education Enhancement Trust Fund, $7 million each from the $326 million Dakota Cement Trust Fund and $302 million School and Public Lands Fund and $3 million from the $147 million Health Care Trust Fund.
The council also approved committing $100 million to Rockpoint Real Estate Fund VI, a value-added real estate fund. By fund, the council approved commitments of $90 million from SDRS, $5 million from the Education Enhancement Trust Fund, $2 million each from the Dakota Cement Trust Fund and School and Public Lands Fund and $1 million from the Health Care Trust Fund.