The $19.3 billion Orange County Employees Retirement System (OCERS) has approved a $75 million commitment to Oaktree Real Estate Opportunities Fund VIII, managed by Oaktree Capital Management.
The fund opened to investors in 2019 with a target capital raise of $3.5 billion and a 10-year lifespan, with possible extensions up to five years.
Oaktree Real Estate Opportunities Fund VIII will target distressed debt acquisitions, equity recapitalizations, rescue financings and discounted securities purchases.
This was a new mandate for OCERS but not a new manager, according to Robert Kinsler, communications manager for the pension fund. OCERS previously invested $75 million in the Oaktree Real Estate Debt Fund in
