T
he State of Wisconsin Investment Board (SWIB) has made a significant foray into the real estate market, allocating $288m across four new investments. The board's decision to diversify its portfolio includes commitments to two new managers: Bridge Logistics Group and FifteenFortySeven Critical Systems Realty.

    Bridge Logistics Group's Value Fund II will focus on acquiring, developing, and operating logistics assets in key US gateway markets, with a non-core strategy that sets it apart from more traditional investments. Meanwhile, FifteenFortySeven's 1547 Data Center Fund III aims to acquire existing data centre assets while exploring build-to-suit developments, targeting a gross internal rate of returns of 20%.

    SWIB has also ventured into real estate debt, committing $100m to Berkshire Bridge Loan Investors-MF1 III. This fund provides bridge loans for various US residential assets, marking an expansion into the debt market.

    In addition to these new commitments, SWIB has reaffirmed its existing partnership with Essex Property Trust through a $28m allocation to WESCO V, a core apartment joint venture on the US West Coast. The pension fund is also considering a potential $150m commitment to a US specialty non-core real estate fund, which would establish a new investment relationship if finalized.