New Mexico SIC slates $150m for Oaktree Real Estate Opportunities Fund IX

The New Mexico State Investment Council (SIC) has approved a commitment of up to $150 million to Oaktree Real Estate Opportunities Fund IX, managed by Oaktree Capital Management.

The opportunistic fund opened to investors in January and looks to invest in debt secured by properties in Australia, China, Denmark, Germany, Japan, the Netherlands, Poland, South Korea and the United Kingdom.

The previous fund in the series, Oaktree Real Estate Opportunities Fund VIII, held its final close in March 2021 with $4.7 billion of capital commitments, making it Oaktree’s largest real estate fundraise at the time. The fundraise meaningfully exceeded its original target of $3.5 billion.

A fundraising target for Oaktree Real Estate Opportunities Fund IX could not be determined at the time of publication. The fund also collected a $15 million commitment from the Ohio State Highway Patrol Retirement System this month.

Oaktree’s real estate strategies target a diverse r