Real Estate Equity Activity
Real Estate Equity Activity as of Dec. 31, 2025
| Valuation Date | Portfolio | Vintage Year | Investment | Commitment | Funding | Investment Type |
|---|---|---|---|---|---|---|
| 12/31/2025 | Equity Real Estate Funds | 2020 | Blackstone BioMed Life Science Real Estate L.P. | 300,000,000 | 300,000,000 | Core |
| 12/31/2025 | Equity Real Estate Funds | 2015 | Brookfield DC Office Partners LLC | 65,200,000 | 64,903,759 | Core |
| 12/31/2025 | Equity Real Estate Funds | 2013 | Brookfield DTLA Holdings LLC | 200,000,000 | 239,325,493 | Core |
| 12/31/2025 | Equity Real Estate Funds | 2006 | Brookfield Properties Office Partners, Inc. | 360,306,084 | 360,306,084 | Core |
| 12/31/2025 | Equity Real Estate Funds | 2018 | Cabot Industrial Core Fund II, L.P. | 150,000,000 | 150,000,000 | Core |
| 12/31/2025 | Equity Real Estate Funds | 2022 | Cabot Industrial Core Fund III, L.P. | 130,599,000 | 97,800,000 | Core |
| 12/31/2025 | Equity Real Estate Funds | 2021 | NYSTRS/FCP Multifamily Preferred Equity and Mezzanine Program | 219,780,000 | 83,937,472 | Core |
| 12/31/2025 | Equity Real Estate Funds | 1985 | PRISA | 125,000,000 | 125,000,000 | Core |
| 12/31/2025 | Equity Real Estate Funds | 1989 | PRISA II | 150,000,000 | 150,000,000 | Core |
| 12/31/2025 | Equity Real Estate Funds | 2021 | TA Realty Logistics Fund, L.P. | 72,648,989 | 75,000,000 | Core |
| 12/31/2025 | Equity Real Estate Funds | 1985 | UBS Trumbull Property Fund | 125,000,000 | 125,000,000 | Core |
| 12/31/2025 | Equity Real Estate Funds | 2018 | Aermont Capital Real Estate Fund IV SCSp | 176,103,221 | 141,851,760 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2022 | Aermont Capital Real Estate Fund V, SCSp | 316,985,797 | 119,560,403 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2015 | AG Realty Fund IX, L.P. | 50,000,000 | 46,250,000 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2007 | AG Realty Fund VII, L.P. | 50,000,000 | 47,000,000 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2011 | AG Realty Fund VIII, L.P. | 50,000,000 | 47,126,159 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2014 | Artemis Real Estate Partners Fund II, L.P. | 50,000,000 | 54,938,371 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2017 | Artemis Real Estate Partners Fund III, L.P. | 75,000,000 | 85,977,495 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2022 | Artemis Real Estate Partners IV, L.P. | 100,000,000 | 64,711,766 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2021 | BentallGreenOak US Cold Storage, L.P. | 234,750,000 | 124,777,334 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2017 | Blackstone Real Estate Partners Asia II, L.P. | 200,000,000 | 181,252,622 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2021 | Blackstone Real Estate Partners Asia III, L.P. | 300,000,000 | 140,137,859 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2013 | Blackstone Real Estate Partners Asia, L.P. | 200,000,000 | 195,584,935 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2014 | Blackstone Real Estate Partners Europe IV, L.P. | 173,248,001 | 168,414,465 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2016 | Blackstone Real Estate Partners Europe V, L.P. | 100,000,000 | 91,649,571 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2019 | Blackstone Real Estate Partners Europe VI, SCSp | 100,000,000 | 84,611,342 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2006 | Blackstone Real Estate Partners Fund V TE.2.L.P. | 50,000,000 | 51,986,534 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2007 | Blackstone Real Estate Partners Fund VI TE.2.L.P. | 100,000,000 | 99,610,159 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2018 | Blackstone Real Estate Partners IX, L.P. | 200,000,000 | 208,782,965 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2011 | Blackstone Real Estate Partners VII.TE.1 L.P. | 75,000,000 | 92,679,773 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2015 | Blackstone Real Estate Partners VIII, L.P. | 200,000,000 | 224,424,623 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2022 | Blackstone Real Estate Partners X, L.P. | 300,000,000 | 123,599,542 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2015 | Brockton Capital Fund III, L.P. | 53,824,172 | 67,117,130 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2021 | Brookfield Real Estate Secondaries Account (N), L.P. | 600,000,000 | 508,870,091 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2022 | Brookfield Real Estate Secondaries B L.P. | 300,000,000 | 225,178,277 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2018 | Brookfield Strategic Real Estate Partners III, L.P. | 100,000,000 | 121,811,537 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2021 | Brookfield Strategic Real Estate Partners IV, L.P. | 200,000,000 | 172,651,172 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2007 | CB Richard Ellis Strategic Partners U.S. Opportuni | 50,000,000 | 47,461,320 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2012 | Cerberus Institutional R/E Partners III, L.P. | 50,000,000 | 62,963,300 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2025 | DBP III Discretionary Co-Invest, LP | 46,900,000 | 20,683,193 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2025 | DigitalBridge Partners III, L.P. | 100,000,000 | 39,263,750 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2005 | DLJ Real Estate Capital Partners III, L.P. | 75,000,000 | 93,348,326 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2008 | DLJ Real Estate Capital Partners IV, L.P. | 75,000,000 | 87,595,428 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2013 | Gateway Real Estate Fund IV, L.P. | 75,000,000 | 63,891,061 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2016 | Gateway Real Estate Fund V, L.P. | 100,000,000 | 94,172,002 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2018 | Gateway Real Estate Fund VI, L.P. | 100,000,000 | 85,776,159 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2021 | GCM Grosvenor - NYSTRS CRE Opportunity Partners, L.P. | 250,000,000 | 82,497,240 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2017 | GreenOak US III, L.P. | 50,000,000 | 48,701,820 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2021 | Harrison Street Real Estate Partners VIII, L.P. | 200,000,000 | 180,316,946 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2005 | Heritage Fields, L.L.C. | 66,339,022 | 50,961,888 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2008 | LaSalle Asia Opportunity Fund III | 32,524,411 | 31,682,661 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2001 | Lone Star Fund IV (U.S.), L.P. | 200,000,000 | 190,451,987 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2014 | Lone Star Fund IX (U.S.), L.P. | 100,000,000 | 86,911,750 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2005 | Lone Star Fund V (U.S.), L.P. | 135,000,000 | 135,000,000 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2008 | Lone Star Fund VI (U.S.), L.P. | 50,000,000 | 40,010,716 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2016 | Lone Star Fund X (U.S.), L.P. | 100,000,000 | 89,132,944 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2018 | Lone Star Fund XI, L.P. | 100,000,000 | 94,812,725 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2011 | Lone Star Real Estate Fund II (U.S.), L.P. | 75,000,000 | 66,457,374 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2013 | Lone Star Real Estate Fund III (U.S.), L.P. | 34,879,584 | 32,696,662 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2015 | Northwood Real Estate Partners, L.P., Series VI | 50,000,000 | 68,034,192 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2017 | Northwood Real Estate Partners, L.P., Series VIII | 100,000,000 | 113,971,649 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2007 | O'Connor North American Property Partners II, L.P. | 50,000,000 | 62,179,613 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2021 | Pennybacker EIV, L.P. | 25,000,000 | 20,242,473 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2019 | Pennybacker V, L.P. | 50,000,000 | 44,080,241 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2023 | Pennybacker VI, L.P. | 50,000,000 | 22,220,924 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2013 | Perella Weinberg Real Estate Fund II, L.P. | 58,701,074 | 50,436,292 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2015 | PW Real Estate Fund III, L.P. | 58,701,074 | 44,057,471 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2007 | Rockpoint Real Estate Fund III, L.P. | 100,000,000 | 92,783,437 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2011 | Rockpoint Real Estate Fund IV, L.P. | 50,000,000 | 48,660,640 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2015 | Rockpoint Real Estate Fund V, L.P. | 50,000,000 | 46,872,922 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2019 | Rockpoint Real Estate Fund VI, L.P. | 50,000,000 | 47,778,154 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2012 | Starwood Distressed Opportunity Fund IX, L.P. | 50,000,000 | 46,500,000 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2025 | Starwood Distressed Opportunity Fund XIII, L.P. | 150,000,000 | 0 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2006 | Starwood Global Opportunity Fund VII-A, L.P. | 50,000,000 | 50,000,000 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2015 | Starwood Opportunity Fund X Global, L.P. | 100,000,000 | 90,000,000 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2017 | Starwood Opportunity Fund XI Global, L.P. | 100,000,000 | 96,000,000 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2022 | TPG Real Estate Partners IV, L.P. | 100,000,000 | 51,141,814 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2009 | Walton Street Real Estate Fund VI, L.P. | 75,000,000 | 66,485,899 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2012 | Westbrook Real Estate Fund IX, L.P. | 50,000,000 | 54,941,634 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2006 | Westbrook Real Estate Fund VI, L.P. | 75,000,000 | 85,001,715 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2007 | Westbrook Real Estate Fund VII, L.P. | 75,000,000 | 75,000,000 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2010 | Westbrook Real Estate Fund VIII, L.P. | 50,000,000 | 55,490,207 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2015 | Westbrook Real Estate Fund X, L.P. | 100,000,000 | 98,803,905 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2019 | Westbrook Real Estate Fund XI, L.P. | 100,000,000 | 103,636,273 | Opportunistic |
| 12/31/2025 | Equity Real Estate Funds | 2017 | Abacus Multi-Family Partners IV, L.P. | 75,000,000 | 71,708,716 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2020 | Abacus Multi-Family Partners V, L.P. | 100,000,000 | 95,597,484 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2022 | Abacus Multi-Family Partners VI, L.P. | 200,000,000 | 147,945,205 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2025 | Abacus Multi-Family Partners VII, L.P. | 200,000,000 | 0 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2015 | AG Core Plus Realty Fund IV, L.P. | 50,000,000 | 47,500,000 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2018 | AG Realty Value Fund X, L.P. | 100,000,000 | 95,000,000 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2022 | AG Realty Value Fund XI, L.P. | 100,000,000 | 78,500,000 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2019 | Cabot Industrial Value Fund VI, L.P. | 150,000,000 | 136,958,500 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2023 | Cabot Industrial Value Fund VII, L.P. | 50,000,000 | 44,380,000 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2009 | Clarion Development Ventures III, L.P. | 38,500,000 | 37,268,000 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2022 | EQT Exeter Industrial Value Fund VI, L.P. | 50,000,000 | 30,000,000 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2005 | Excelsior II, LLC | 150,000,000 | 153,750,603 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2020 | Exeter Europe Industrial Core Fund S.C.Sp. | 80,181,778 | 66,893,010 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2021 | Exeter Europe Logistics Value Fund IV S.C.Sp. | 199,581,302 | 138,138,675 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2016 | Exeter Industrial Value Fund IV, L.P. | 100,000,000 | 94,431,373 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2020 | Exeter Industrial Value Fund V, L.P. | 150,000,000 | 147,695,292 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2012 | FCP Realty Fund II, L.P. | 50,000,000 | 49,217,415 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2015 | FCP Realty Fund III, L.P. | 75,000,000 | 74,762,800 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2017 | FCP Realty Fund IV, L.P. | 100,000,000 | 98,379,684 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2021 | FCP Realty Fund V, L.P. | 150,000,000 | 147,910,514 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2023 | FCP Realty Fund VI, L.P. | 100,000,000 | 24,676,438 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2014 | GCM Grosvenor - NYSTRS Real Estate Investment Partners, L.P. | 100,000,000 | 110,723,891 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2016 | GCM Grosvenor - NYSTRS Real Estate Investment Partners, L.P. 2016-1 Series | 100,000,000 | 96,228,883 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2018 | GCM Grosvenor - NYSTRS Real Estate Investment Partners, L.P. 2018 Series | 150,000,000 | 151,102,397 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2021 | GCM Grosvenor - NYSTRS Real Estate Investment Partners, L.P. 2021-1 Series | 150,000,000 | 116,525,598 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2024 | GCM Grosvenor - NYSTRS Real Estate Investment Partners, L.P. 2024-1 Series | 100,000,000 | 27,887,652 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2015 | Penwood Select Industrial Partners IV, L.P. | 75,000,000 | 65,366,925 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2017 | Penwood Select Industrial Partners V, L.P. | 100,000,000 | 83,670,903 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2021 | Penwood Select Industrial Partners VI, L.P. | 100,000,000 | 86,975,666 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2023 | Penwood Select Industrial Partners VII, L.P. | 50,000,000 | 10,316,515 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2022 | PGV SCSp | 118,413,178 | 89,092,462 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2003 | PRISA III | 80,000,000 | 80,000,000 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2014 | Rockpoint Growth and Income Real Estate Fund I, L.P. | 50,000,000 | 47,233,953 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2016 | Rockpoint Growth and Income Real Estate Fund II, L.P. | 50,000,000 | 47,580,746 | Value-Added |
| 12/31/2025 | Equity Real Estate Funds | 2019 | Rockpoint Growth and Income Real Estate Fund III, L.P. | 50,000,000 | 41,784,205 | Value-Added |