Document library

Investment Committee staff report (File 26-114) recommending Board approval of a $150M commitment to TPG Credit Essential Housing Fund IV; a real estate debt strategy providing off-balance-sheet land inventory financing to US homebuilders.

Staff memo and IPC report proposing a $300 million investment in Carlyle Realty Partners X, L.P., targeting 20-25% gross returns with an $8 billion target ($10 billion hard cap). Strategy focuses on residential (multifamily, SFR, active adult) and industrial (warehouses, outdoor storage) in the middle market. 26-year track record under Robert Stuckey. Hamilton Lane served as RE consultant. Presented at SIC October 30, 2024 regular meeting.

Investment Committee informational staff report (File 24-270) reporting a $150M commitment to TPG Angelo Gordon Essential Housing Fund III in April 2024, exceeding the $120M pacing plan; no further RE investments planned for 2024.

NYCERS Board adopted the Responsible Property Management Standards (RPMS) policy in April 2024, requiring all prospective private real estate equity fund managers to commit to fair residential management practices.

Investment Committee staff report (File 24-042) recommending Board approval of a $150M commitment to TPG Angelo Gordon Essential Housing Fund III; a real estate debt strategy providing off-balance-sheet land financing to US homebuilders.

Monthly transaction report disclosing: The Preserve at Poinciana via ComRef Heitman Separate Account ($62.3M, forward purchase of 175-unit Class A single-family-rental development in Poinciana FL). Real assets: Carlyle Renewable & Sustainable Energy Fund II ($200M), DigitalBridge Partners III ($275M).

Monthly transaction report disclosing: ComRef Martinique via JP Morgan Separate Account ($50.8M, forward purchase of 120-unit residential townhome development in Lakewood Ranch/Sarasota FL).

ERSRI staff recommendation memo approving up to $20M commitment to Greystar Equity Partners XI, a value-add closed-end multifamily fund targeting Class A and B properties broadly diversified across U.S. gateway and growth markets. Meeting date March 22, 2023.

Greystar Real Estate Partners manager presentation for ERSRI on Greystar Equity Partners XI, a value-add multifamily fund targeting 70-75 institutional Class A/B properties across U.S. gateway and growth markets.