OPERF commits $150m to Harrison Street open-end real estate fund

The $76.6 billion Oregon Public Employees Retirement Fund has committed $150 million to Harrison Street Core Property Fund, according to Anthony Breault, a senior real estate investment officer for the pension fund.

Harrison Street Core Property Fund is managed by real estate private equity firm Harrison Street Real Estate Capital. The firm’s core real estate investment platform targets stabilized assets exclusively invested in the education, healthcare and storage segments of the real estate market. The firm’s core fund focuses on income-producing assets to be held for long periods, typically 10 or more years. 

Previous investors emaking commitments to the fund include The City of Jacksonville (Fla.) Retirement System, the Texas Municipal Retirement System and the Maine Public Employees Retirement System.

As of July 31, 2018, OPERF has a target allocation to real estate of 12.5 percent and an actual allocation of 10.4 percent. The pension fund’s real estate portfolio makes up $7.84 billion of the total portfolio.