The US pension committed $10 million to Partners Group Real Estate Secondary 2017 in its January investment round, El Paso executive director Tyler Grossman confirmed.
The fund, which is seeking €2 billion, has been in market since October 2016 and had raised €1.2 billion by August.
El Paso, which has around $1.5 billion in assets under management, previously committed $9 million to Partners Group Real Estate Secondary 2009, the firm’s $1.5 billion debut in that strategy.
The pension also committed $10 million to Carlyle’s Metropolitan Real Estate Partners Global Fund VIII, Grossman confirmed.
Partners Group Real Estate Secondary 2017 is the second-largest real estate secondaries fund in market, according to PERE data. The biggest, Landmark Real Estate Partners VIII, is seeking $2 billion and is set for a first-quarter close, as Secondaries Investor reported.
Metropolitan launched its second real estate secondaries vehicle in January 2017. It is seeking $1 billion, Secondaries Investor reported.
According to data from secondaries advisor Greenhill Cogent, real estate secondaries transaction volumes stood at $5 billion last year, up from $4 billion in 2016 and down from the $7.5 billion record in 2015.