Landmark Real Estate captures a $100m commitment from Oklahoma Teachers

The Oklahoma Teachers’ Retirement System (OTRS) has approved a $100 million commitment to Landmark Real Estate Partners (LREP) IX, subject to final document negotiation, confirmed Phyllis Bennett, executive assistant at OTRS.

Managed by Ares Secondaries, LREP IX has a capital-raise target of $3.5 billion and is seeking to make value-add and opportunistic secondary investments in various types of real estate and real estate related entities.

LREP VIII closed in 2018 with $3.3 billion of committed capital, far exceeding its initial $2 billion target fundraising goal.

OTRS has invested previously in the Landmark Real Estate Partners fund series, having committed $35 million to LREP VII in 2014.

As of June 30, OTRS had 7.7 percent of its $20.7 billion portfolio alloca