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Sign in Sign up for a FREE subscriptionPennsylvania PSERS allocates $175m to ACORE Opportunistic Credit II
The $76.5 billion Pennsylvania Public School Employees’ Retirement System (PSERS) has approved a $175 million commitment to ACORE Opportunistic Credit II, a real estate debt fund managed by ACORE Capital.
The fund launched several months ago, according to an initial SEC filing dated May 30, and a fundraising target was not disclosed.
Ben Cotton, CIO of PSERS, said the pension fund will allocate the capital to the ACORE commitment pending final contract approvals.
ACORE is one of the largest non-bank commercial real estate debt investment managers. The firm lends on all property types in all United States markets, originating floating-rate first mortgages, as well as B-notes and mezzanine loans. In April, ACORE completed a final close of its AC
