California-based pension commits $125m to real estate debt fund
The $12.7 billion Orange County Employees Retirement System has made a provisional commitment of $125 million tothe forthcoming fund in the Kayne Anderson Real Estate Debt series, managed by Kayne Anderson Capital Advisors, according to board meeting documents.
OCERS previously committed at least $75 million to Westbrook Real Estate Fund X, managed by Westbrook Partners in December 2015. The Westbrook fund is looking to raise $2.5 billion and will invest in Western Europe, the United States and Japan.
Kayne Anderson previously held its largest fund close in May 2015, raising more than $1 billion for its Kayne Anderson Real Estate Partners IV, exceeding its target size within eight months.