The $5.3 billion Boston Retirement System has committed $20 million to Oaktree Real Estate Debt Fund III, managed by Oaktree Capital Management.
The Oaktree Real Estate Debt Fund III will focus on six investment areas, including commercial real estate, real estate corporate investments, structured finance, commercial NPLs, residential real estate and non-U.S. real estate.
The fund opened to investors in December 2019 and was also funded by the Minnesota State Board of Investments (SBI) with a $100 million commitment in March.
Oaktree launched its debt strategy in 2010 as an expansion of the real estate opportunities strategy, according to the firm’s website. It pursues a wide range of investments, including CMBS, commercial and residential mortgages, mezzanine loans, and corporate debt.
The previous fund in the series, Oaktree Real Estate Debt Fund II, held
