The $15.6 billion Ohio Police & Fire Pension Fund (OP&F) has approved a commitment of up to $60 million to Oaktree Real Estate Opportunities Fund VIII, a $3.5 billion opportunistic fund managed by Oaktree Capital Management.
Oaktree Real Estate Opportunities Fund VIII is a closed-end diversified credit distress fund with a primary focus on U.S. opportunities. OP&F joins the San Diego City Employees’ Retirement System and the Minnesota State Board of Investment, which committed $30 million and $100 million, respectively, to the fund this year.
This marks OP&F’s first commitment to an Oaktree fund, according to notes from the fund’s Oct. 20–21 investment committee meeting. It also marks the third and final real estate commitment for the 2020 plan year for OP&F, bringing its total 2020 partnership commitments to $180 million.
OP&F’s real estate portfolio is valued at $1.6 billion, accounting for 10.5 percent of the total investment
