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SWIB reviews $544m of potential commitments to real estate strategies – IPE Real Assets

State of Wisconsin Investment Board (SWIB) is reviewing $544m (€562m) worth of potential commitments to real estate strategies, according to a board meeting document.

The pension fund declined to name any of the managers or funds involved.

SWIB is considering committing $150m to a separate account with an existing manager to invest in core apartment assets in the US.

It is also mulling a $100m commitment to a non-core US industrial fund and $50m for co-investment.

SWIB is currently below its target weighting to apartments and industrial assets. Apartments make up 26.6% of its real estate portfolio, below its 28.5% benchmark, the NFI-ODCE index, while industrial represents 21.3% of its portfolio, versus 29.6% for its benchmark.

The pension fund is also looking at investing $219m in alternative real estate sectors, including a $114m core co-investment and a $105m commitment to a non-core fund.

It is also considering making a $25m co-investment in non-core office.

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