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Minnesota SBI commits $100m to Angelo Gordon Asia property fund

Real estate fund will focus on underperforming, troubled assets

Angelo Gordon's latest Asian property fund aims to focus on Hong Kong and other large real estate markets around the region.   © Reuters

CEBU, Philippines -- The Minnesota State Board of Investments (SBI) has approved a capital commitment of up to $100 million to the latest Asia real estate fund of New York-based alternative investment manager Angelo Gordon.

In its latest private-market investment commitments update, Minnesota SBI said its board has greenlighted a commitment of $100 million to AG Asia Realty Fund V, which will seek to make timely investments in real estate in Asia.

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