Oklahoma TRS commits $60m to GreenOak fund

The $16 billion Oklahoma Teachers Retirement System has committed $60 million to GreenOak U.S. III, according to Tom Spencer, executive director for the pension fund.

GreenOak U.S. III, managed by GreenOak Real Estate, is seeking to raise $750 million to $1 billion to invest in office, retail, multifamily and logistics properties. The value-added fund will target major coastal gateway cities in the United States. The fund launched in 2016.

The fund also received a $25 million commitment from the $10.5 billion Public School Teachers Pension & Retirement Fund of Chicago early this year.

This is not Oklahoma’s first investment in the GreenOak fund series. The pension fund committed $50 million to the fund’s predecessor, GreenOak U.S. II, which held a $756 million final close in 2013. GreenOak U.S. held a $260 million final close in 2011.

Oklahoma TRS has a