T
he State of Michigan Retirement System has greenlit new investments totaling $175 million across its infrastructure and real estate portfolios. A key allocation was a $100 million stake in KKR's Global Infrastructure Investors V fund, which is still seeking capital with a current total of $10.3 billion.

    KKR's fund aims to reach $10.3 billion in total commitments. Separately, the retirement system has also approved a $75 million commitment to Transwestern Strategic Partners Fund IV, a value-add real estate fund focused on US industrial, multifamily and healthcare properties.

    The target capital raise for the fund is $500 million, surpassing the $325 million raised for its predecessor, Fund III, in 2022.