Oregon PREF commits $200 million to Amstar venture
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 i