New York State Teachers Retirement System (NYSTRS) has approved a $150m (β¬135.7m) commitment to an industrial real estate fund managed by Cabot Properties.
The $122.5bn by the pension fund said it is investing the capital in Cabot Industrial Value Fund VI, a fund for which Cabot is seeking to raise $800m.
The fund will mostly invest in the US by targetting a mixture of stabilised properties, assets that need to be repositioned or providing equity to build new industrial properties.
NYSTRS told ΒιΆΉΣ³» Real Assets that Cabot has over 30 years of proven performance investing in the industrial sector and has βdemonstrated the ability to realise positive risk-adjusted returns over multiple market cyclesβ.
Prior to the latest commitment, NYSTRS has made seven commitments to Cabotβs value fund series and core funds totalling $600m.
NYSTRS said it has renewed a $1.6bn Cohen & Steers relationship which targets real estate investment trusts and real estate operating companies.
