Oregon commits $150m to debt fund
The Oregon Public Employees Retirement Fund has committed $150 million to Madison Realty Capital Debt Fund III, according to Anthony Breault, senior real estate investment officer for the Oregon State Treasury.
Breault noted that this is a first-time investment with Madison Realty Capital for Oregon PERF, but the $72 billion pension fund likes Madison’s “excellent sourcing capabilities for the New York and tri-state area market.”
The fund will invest in commercial real estate loans, real estate mezzanine loans and preferred equity investments. Managed by Madison Realty Capital, the fund is aiming for a 16 percent return and is targeting $600 million in investor commitments.
Other investors in the debt fund have included the $104.3 billion New York State Teacher