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Sign in Sign up for a FREE subscriptionFresno County Employees invests $150m in opportunistic real estate strategies
The Fresno County (Calf.) Employees Retirement System has committed $75 million each to Ares U.S. Real Estate Opportunity Fund III and Oaktree Real Estate Opportunities Fund VIII, according to recently released board documents.
Ares U.S. Real Estate Opportunity Fund III, an opportunistic fund managed by Ares Management, was launched in November 2019 and hit $1.1 billion in April 2020. The vehicle will target primary property types in major markets throughout the United States.
Oaktree Real Estate Opportunities Fund VIII, managed by Oaktree Capital Management, will target distressed debt acquisitions, equity recapitalizations, rescue financings and discounted securities purchases. The fund opened to investors in 2019 with a target capital raise of $3.5 billion. As of January 2
