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The secondaries firm expects to wrap up fundraising by the end of the year for its latest real estate secondaries vehicle, according to Connecticut's pension plan.
The pension system also detailed its real estate fee changes from 2014-15.
The endowment, which allocated $405m to venture capital and private equity last fiscal year, tapped the CIO of Michael Bloomberg’s family office for the role.
Tax ramifications should be a foremost consideration when approaching secondaries in an asset class that has extra layers to consider compared with private equity.
Two major real estate secondaries fundraises show the strength of the market and investor appetite for the investment strategy.
The firm used its $1.8bn REIT to acquire a diversified portfolio of limited partnership interests in 41 private equity real estate funds.
The fund of funds manager has raised $219m for its latest vehicle after 18 months of fundraising.
The Ohio retirement system has emerged as a co-investor in the Blackstone unit's fund which was set up to acquire real estate stakes from the California pension.
The firm, which is also in market with a dedicated secondaries fund, will make secondaries purchases from its latest real estate fund of funds.
The pension plan invested in debt, equity and secondaries through two fund allocations in February.
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