Houston Police Officers commits $80m to two real estate funds

Houston Police Officers Pension System (HPOPS), with $7.1 billion AUM, has made commitments of $40 million each to Bain Capital Real Estate Fund III and Brookfield Strategic Real Estate Partners (BSREP) V.

Bain Capital Real Estate Fund III will invest primarily in North American markets, with a 25 percent cap on investments outside North America. The fund will opportunistically invest in self-storage, life sciences office/lab space, medical office, senior housing, last-mile industrial, affordable housing and media/content creation space, with a value-add strategy. The $40 million from HPOPS helps the fund get closer to its target goal of $3.75 billion.

Managed by Brookfield Asset Management, BSREP V has a fundraising target of $15 billion, and will opportunistically invest in diversified sectors globally. Bruce Flatt, CEO of Brookfield Asset Management, said in the recent second quarter earnings call, “The combination of the pockets of stress in capital markets and s