NYSCRF backs LaSalle, Oaktree, Kayne Anderson funds

New York State Common Retirement Fund (NYSCRF) has disclosed $650 million in new real estate commitments that were made during the month of March.

The largest commitment was a $300 million commitment to LaSalle Property Fund (LPF), an open-end fund structure focused on acquiring and managing a diversified portfolio of core real estate. Managed by LaSalle Investment Management, the core commingled property fund aims to invest in and manage a diversified portfolio of high-quality, stabilized real estate and real estate-related assets in the industrial, multifamily, medical office, office and retail sectors in the United States.

LaSalle is an existing relationship for NYSCRF, which noted that the funding of capital calls will come from cash.

NYSCRF also invested $200 million in the Oaktree Real Estate Opportunities Fund VIII, an opportunistic fund managed by Oaktree Capital Management. The vehicle will target distressed debt acquisitions, equity recapitalizations,