South Dakota Investment Council, Pierre, made three new commitments totaling up to $376 million for the $12.2 billion South Dakota Retirement System, recently released council meeting minutes show.
The council committed up to $200 million to Blackstone Real Estate Partners Europe VI. Earlier this year, the council committed $300 million to Blackstone Real Estate Partners IX, an opportunistic real estate fund managed by Blackstone Group.
The council also committed up to €90 million ($101 million) to European buyout fund Cinven VII. The council previously committed up to $200 million to Cinven VI in 2016.
Also, the council committed up to $75 million to Lone Star Real Estate Fund VI, managed by Lone Star Funds. The council previously committed up to $300 million to Lone Star Real Estate Fund V in 2016.
The minutes also noted the council will make commitments in proportional amounts to the other funds it oversees, which are the $603 million Education Enhancement Trust Fund, $326 million Dakota Cement Trust Fund, $302 million School and Public Lands Fund, and $147 million Health Care Trust Fund. The minutes did not specify the amounts.
Tammy Otten, assistant chief investment officer, could not be immediately reached to provide further information.