Oklahoma Teachers commits $120m to real estate funds

The $16.1 billion Oklahoma Teachers Retirement System has committed a total of $120 million to two real estate funds, according to Tom Spencer, executive director for the retirement system.

Oklahoma Teachers has allocated $60 million each to Invesco Strategic Opportunities III, managed by Invesco Real Estate, and AG Realty Value Fund X, managed by Angelo, Gordon & Co.

Invesco plans to invest half of the fund’s capital in Europe and half in the United States, with a focus on equity, debt and hybrid value-add transactions through the closed-end fund.

Angelo, Gordon’s real estate strategy pursues a value-added investment approach across the globe, with a significant presence in the United States and Asia. The firm employs both domestically focused opportunistic and core-plus real estate strategies and a pan-Asia opportunistic real estate strategy.

Oklahoma Teachers Retirement System has a target allocation to real estate of 9 percent.