Investors - JULY 22, 2021

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Oklahoma TRS allocates $100m to FCP Fund V

by Kali Persall

The Teachers’ Retirement System (TRS) of Oklahoma has approved a $100 million commitment to FCP Fund V, according to an investment document from July 21.

This was a follow-on commitment for TRS and will accomplish an increase in allocation to the pension fund’s private real estate portfolio.

FCP Realty Fund V, a closed-end, value-add fund managed by Maryland-based FCP, will invest in multifamily, office and mixed-use assets in the United States. The vehicle specifically targets undervalued and/or underperforming multifamily assets located primarily in select Southeast and Sun Belt markets in the United States and invests in office assets on an opportunistic basis.

As of July 7, the fund had raised $645.9 million in capital commitments, against a fundraising target of $1.188 billion. At the time of the filing, FCP Realty Fund V had assembled a list

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