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ennsylvania Public School Employees’ Retirement System (PSERS) has, for the first time, committed $90 million (€77.3 million) to Graceada Partners’ Fund IV. Fund IV focuses on value‑add workforce housing and multi‑tenant industrial assets in the States. PSERS noted the fund’s strategy has attracted investor interest that has pushed commitments beyond the $400 million hard cap. Graceada will co‑invest roughly 1 % of total commitments. The fund targets a net IRR of 17 % and a 2.0× net multiple. Graceada declined to comment. PSERS has $262 million earmarked for 2025 investments; its sole other commitment this year is €75 million to Realterm European Logistics Fund II. For IPE Real Assets coverage, click here.