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SDCERS to allocate $40m to real estate debt fund

by Jody Barhanovich

The $6 .7 billion San Diego City Employees’ Retirement System is planning to allocate $40 million to Oaktree Real Estate Debt Fund II, according to a board meeting document.

Official approval of the commitment will be made at the pension fund’s investment committee meeting on May 11.

Oaktree Real Estate Debt Fund II opened in April 2016 with a $1.75 billion fundraising target. The fund has raised  $694.4 million in equity commitments so far. The fund will invest in debt secured by properties throughout the United States; however, it will consider investments of up to 30 percent in the United Kingdom, Germany, Japan and South Korea.

The fund’s predecessor, Oaktree Real Estate Debt Fund, held a $1.1 billion final close in 2013.

Oaktree’s debt series focuses on six areas to invest, which include CMBS, mezzanine loans, real estate–related corporate debt, commercial first mortgages,

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