Michigan Department of Treasury, Bureau of Investments, disclosed $200 million in real estate and infrastructure commitments completed in the third quarter on behalf of the $89.7 billion Michigan Retirement Systems, East Lansing, according to materials for the state’s upcoming Dec. 8 investment board meeting.
The bureau committed $100 million to Blackstone Energy Transition Partners IV, a closed-end global, diversified infrastructure fund concentrating on investments that are beneficiaries of energy transition trends of renewables, electrification, energy efficiency and decarbonization, managed by Blackstone Management Partners.
Also, it committed $100 million to Blackstone Green Private Credit Fund III, a closed-end primarily North American, diversified infrastructure fund focused on private credit investments in renewable energy, infrastructure, energy transition, sustainability and related sectors, managed by Blackstone Alternative Credit Advisors.
As of Sept. 30, the Michigan Retirement Systems’ actual allocation was 25.6% private equity, 18.1% domestic equity, 12.4% international equity, 12% real return and opportunistic strategies, 11% real estate and infrastructure, 10.2% absolute return, 9.4% fixed income and 1.3% short-term investments.
