Monday, March 26, 2007

WA State Investment Board

Add another pension fund to the growing list of those beginning to invest in and/or increasing allocations to real estate, as the Washington State Investment Board will place $800 million into new real estate investments this year. According to the linked IP article, the decision to expand these investments apparently came on the heels of their $200 million commitment to Morgan Stanley's Real Estate Special Solutions Fund III.

Washington State also made a $211.8m investment into Pacific Properties, SC. This was an entity level kind of commitment in a real estate operating company. Pacific Properties focuses on making investments on resort properties in the French Polynesia area of the world.

The other real estate investment made by the pension fund was a $400m investment for the Emerging Markets Fund-of-Funds, LLC. This entity will be making commitments to other commingled funds that have an investment strategy of placing capital into emerging markets around the world.

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