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JUNE 28, 2013

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Oregon PREF commits $200 million to Amstar venture

by Ross Dohrmann

The $58.8 billion Oregon Public Employees Retirement Fund (OPERF) has committed $200 million to a value-added separate account with Amstar Advisers.

The investments from OPERF and Amstar will be structured at a 60:40 ratio, respectively, with principals from Amstar contributing an additional $2 million of their own equity. This is the first time the OPERF has invested with the Denver-based investment firm.

The team has two primary investment strategies: acquiring and restoring class A office assets to core level, and developing core multifamily assets into high-yielding properties upon stabilization.

OPERF has an actual allocation to real estate of 11.4 percent with a target allocation of 11.0 percent, which reflects the fund’s shift to the value-added account. Currently, the retirement fund has $6.7 billion invested in

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