Ohio Bureau of Workers commits $50m to Gaw Capital fund
The $27.4 billion Ohio Bureau of Workers’ Compensation committed $50 million to Gaw Capital’s U.S. Value Add Fund III.
As with its predecessor funds, the strategy behind Fund III will center on the acquisition and repositioning/redevelopment of “creative office” and “creative hospitality” assets in U.S. markets populated by young, well-educated populations and experiencing strong employment growth.
The fund has a $400 million hard cap and is expected to close in first quarter 2018, according to a report from Ohio BWC. The fund has already closed on $250 million of capital commitments.
The fund previously received a $50 million commitment from the $21.1 billion San Francisco City & County Employees’ Retirement System as well.
Previous funds in Gaw Capital’s fund series include Gaw U.S. Fund