The $105 billion Minnesota State Board of Investment (SBI) has closed on $200 million in commitments to two funds managed by Oaktree Capital Management.
Minnesota SBI committed $100 million each to Oaktree Real Estate Opportunities Fund VIII and Oaktree Real Estate Debt Fund III, according to a private markets investment report on the pension fund’s website. The pension fund could not be reached to comment on its investment activity at the time of publication.
Oaktree opened the first fund, Oaktree Real Estate Opportunities Fund VIII, to investors in 2019. The opportunistic fund is targeting $3.5 billion in equity commitments to invest in debt and distressed properties, mainly throughout the United States, in the commercial, office and residential sectors. As of January 2020, the fund had collecte
