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orth Carolina Retirement Systems has committed $500m to real estate funds managed by Harrison Street and LBA Realty. The pension fund invested $150m each in the Harrison Street Real Estate Fund X and its associated co-investment vehicle, which aims to raise an additional $750m on top of its existing $3bn hard cap.

    Fund X focuses on specialized US property types such as student/senior housing and medical office buildings. Harrison Street declined to comment on the investment. The pension fund also committed $200m to LBA Logistics Value Fund X, which targets non-core industrial assets in the US.

    LBA Realty is seeking to raise $2.5bn for its latest fund, a 25% increase from its previous one. North Carolina Retirement Systems has a $1bn real estate pipeline with four future commitments, including three opportunistic or value-add investments and one core investment.