Nebraska Investment Council has approved a $30.5m (€28.4m) commitment each into non-core real estate funds managed by Carlyle and Kayne Anderson.
The pension fund disclosed in a meeting document that it has placed the capital into the Carlyle Realty Partners X and Kayne Anderson Real Estate Partners VII funds.
As previously reported, Nebraska Investment is planning to make $247m worth of real estate investments in 2024 by placing up to $186m into core real estate, marking a departure from 2023, when it did not invest any capital core properties.
The pension fund said the commitment to the Carlyle and Kayne Anderson funds will represents its entire non-core real estate commitment for the year.
Carlyle is seeking to raise $8bn for its latest US opportunistic real estate fund. According to Nebraska Investment’s meeting document, Carlyle is expected to close the fund at the end of the month.
As previously reported, Kayne Anderson is seeking to raise $3bn for the seventh US value-add fund. The fund expects to reach its final closing by the end of the year or early 2025.
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