
NY State Retirement Invests $20M in Two RE Funds
The New York State Common Retirement Fund made two real estate investments in November totaling $20 million, according to recently released financial disclosures.
The investments made by the $242 billion pension fund are managed by existing managers in the portfolio.
A $10 million commitment was made to Mandrake Capital Real Estate Fund II through the Empire GCM RE Anchor Fund managed by GCM Grosvenor. Mandrake Capital Real Estate Fund II strategy will focus on the build-to-rent sector and special situation opportunities in the U.S. commercial and residential real estate markets.
Another $10 million was invested with Grandview Property Partners‘ Grandview Joint Venture III also through the Empire GCM RE Anchor Fund. Grandview JV III will pursue industrial and residential investments across the U.S.
