The $54.05 billion Teachers’ Retirement System (TRS) of the State of Illinois has plans to commit $100 million to Oaktree Real Estate Debt Fund III, managed by Oaktree Capital Management.
Oaktree currently manages $327.2 million in Illinois TRS assets.
The Oaktree Real Estate Debt Fund III will focus on six investment areas, including commercial real estate, real estate corporate investments, structured finance, commercial NPLs, residential real estate and non-U.S. real estate.
The fund opened to investors in December 2019 and was also funded by the Boston Retirement System with a $20 million commitment in October and the Minnesota State Board of Investments with a $100 million commitment in March.
Oaktree launched its debt strategy in 2010 as an expan
