AUGUST 29, 2013

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

CCCERA invests $150 million in distressed real estate

by Andrea Waitrovich

The $5.95 billion Contra Costa County (Calif.) Employees Retirement Association (CCCERA) has approved two follow-on commitments to opportunistic distressed real estate funds.

CCCERA invested $80 millionin Oaktree Real Estate Opportunities Fund VI (ROF VI), managed by Oaktee Capital Management, and $70 million in Siguler Guff Distressed Real Estate Opportunities Fund II (DREOF II), managed by Siguler Guff Co.

Oaktree’s ROF VI, which has plans to hold a final close on or before Sept. 20, is targeting $2 billion in equity. It is expect the vehicle will surpass its fundraising goal. ROF VI has invested $430 million of committed capital in 22 investments. ROF VI invests across six major categories: commercial real estate, residential real estate, FDIC/bank portfolios, structured finance, non-U.S., and corporate real estate. Of the 22 investments, 50 percent of the invested capital is invested in comm

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy