Seattle commits €15m to European real estate fund
The $2.5 billion Seattle City Employees’ Retirement System committed €15 million ($16 million) to Orion European Real Estate Fund V, managed by Orion Capital Managers, according to board meeting documents. The commitment is pending satisfactory legal review.
Orion European Real Estate Fund V held a €1.5 billion ($1.61 billion) final close in March, exceeding its fundraising target. The fund, which launched in fourth quarter 2016, is an opportunistic real estate fund that will invest in debt secured by European properties.
During its fundraising, Orion European Real Estate Fund V received additional commitments from the $25.6 billion Texas County & District Retirement System and the $11.6 billion Regents of the University of Michigan