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Wednesday, 09 May 2018

University Pension System Invests in BIG Real Estate Fund

The State Universities Retirement System of Illinois has committed to invest up to $30 million in BIG Real Estate Fund I LP, a vehicle through which Basis Investment Group is expected to fund middle-market bridge and mezzanine loans, make equity investments in properties and buy CMBS B-pieces.

Commercial Real Estate Direct Staff Report

The State Universities Retirement System of Illinois has committed to invest up to $30 million in BIG Real Estate Fund I LP, a vehicle through which Basis Investment Group is expected to fund bridge loans and CMBS B-pieces, among other things.

The fund is shooting to raise up to $500 million of equity, according to a regulatory filing. As of a few months ago, it had raised $185 million.

It wouldn't be Basis' first fund - it's put together six separate accounts, all under the Basis Venture banner that raised a total of nearly $615 million of capital commitments. The New York company has a total of nearly $1.5 billion of assets under management.

Those six funds have already provided their investors with a return of just more than $1 billion, generating gross internal rates of return ranging from 14...


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