US pension fund Washington State Investment Board (WSIB) has proposed the creation of a Hong Kong-based real estate investment manager that would initially focus on real estate markets in Asia, according to the board meeting agenda of its private markets committee.
According to the proposal, the $132.3-billion WSIB will commit $250 million to Crane Capital, the new Hong Kong-based real estate investment manager. Additionally, the pension fund will transfer $400 million of assets from Evergreen Investment Advisors to the new entity, per an IPE Real Assets report.
