State Universities Retirement System of Illinois is investing $200.0 million in Blackstone Group LP's Blackstone Property Partners fund and $100.0 million in The Carlyle Group LLC's Carlyle Property Investors fund, IPE Real Assets reported.
According to the report, Carlyle Property Investors is targeting a net internal rate of return of 9% to 11%.
The commitments are part of the pension fund's strategy to increase exposure to core-plus real estate opportunities.
The publication had reported in December 2017 that the Illinois retirement fund planned to redeem $400.0 million from the UBS Trumbull Property Fund and pour $300.0 million into core-plus strategies.
Blackstone declined a request for comment on the matter, the publication added.
