San Francisco Employees' Retirement System is pouring $100 million into a Blackstone Group LP Asian investment vehicle, while placing its $176 million investment in the AFL-CIO Housing Investment Trust under review due to underperformance, IPE Real Assets reported, citing a board document.
According to the report, Blackstone Real Estate Partners is looking to attract $5 billion for its opportunistic Blackstone Real Estate Partners Asia II commingled fund.
The bulk of the funds raised for the fund will be invested in retail and industrial assets and will target various markets, including China, India, Japan and Australia.