The Oklahoma Teachers’ Retirement System (OTRS) has approved commitments of $100 million to KKR Real Estate Partners Americas IV and $100 million to Starwood Distressed Opportunity Fund XIII (SDOF XIII), confirmed Phyllis Bennett, executive assistant, OTRS.
KKR Real Estate Partners Americas IV is a closed-end, diversified, opportunistic fund that is seeking to raise $4 billion to invest in real estate opportunities in the United States.
SDOF XIII, managed by the Greenwich, Conn.-based Starwood Capital Group, is targeting a $10 billion fundraise and has a global strategy to opportunistically invest, with 30-50 percent of the fund comprising distressed opportunities.
SDOF XIII has an expected geographic allocation of 45-55 percent to the U.S., 35-45 percent to Europe and 5-15 percent to Asia Pacific.
As of June 30, 2023, 7.8 percent OTRS’s portfolio was allocated toward real estate, below the pension fund’s 10 percent target allocation for the asset c
