Teachers' Retirement System of Louisiana approved a €50 million investment into Harbert Management Corp.'s fifth European real estate fund, which is eyeing an up to €750 million capital raise, IPE Real Assets reported, citing a board meeting document.
Harbert European Real Estate Fund V, which expects to attract €600 million, aims to invest in office, industrial, residential and retail markets in the U.K., Spain and France.
The pension fund also approved a $50 million commitment into the Sterling Value Add Partners III fund, which is looking to attract $450 million to invest in value-add retail properties in the U.S.
