The Nebraska Investment Council (NIC) has committed nearly $100 million to two opportunistic real estate funds.
At its Dec. 10 board meeting, NIC disclosed a $56 million commitment to Oaktree Real Estate Opportunities Fund VIII, managed by Oaktree Capital Management, as well as a $40 million commitment to Kayne Anderson Real Estate Partners VI (KAREP VI), managed by Kayne Anderson Capital Advisors.
Oaktree’s Fund VIII 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 2020, the fund had collected $1.05 billion in capital from 31 investors. The fund life is 10 years from the beginning of the investment term, plus possible extensions up to five years, according to NIC.
Earlier this month, the Min
