T
he State of Wisconsin Investment Board (SWIB) has bolstered its US real estate portfolio with two new investments totaling $95m. The pension fund made a $50m commitment to Beacon Capital Partners' Strategic Partners 9 value-add office fund and invested $45m in Carson Companies' Industrial JV II joint venture.

    Notably, SWIB's office investment stands out among large US public pension funds, as many are currently reducing their exposure to this property type due to underperformance. In contrast, the pension fund is expanding its industrial portfolio through the Carson joint venture, which focuses on non-core assets in key labour and distribution markets across California, New Jersey, Pennsylvania, and Texas.

    SWIB also has two US residential real estate commitments under review, potentially allocating $100m to a core open-ended fund and $60m to a non-core joint venture.