The California State Teachers' Retirement System established a £500.0 million separate account called CP Logistics UK to invest in the U.K. industrial asset sector, IPE Real Assets reported, citing a board meeting document.
According to the report, the account with Principal Real Estate Investors forms part of $1.24 billion of new commitments approved by the pension fund targeting European real estate.
Blackstone's open-ended core property fund, Property Partners Europe, received $400.0 million from the California pension fund, while Meyer Bergman European Retail Partners III received a €125.0 million commitment, the publication noted.
