The Fresno County (Calif.) Employees Retirement System approved €25 million ($29 million) to PIMCO’s European Data Center Opportunity Fund and $25 million to ACORE Capital’s Opportunistic Credit II. PIMCO is seeking to raise $1 billion for the opportunistic fund, which will be used to build hyperscale data center facilities in second- and third-tier European markets. ACORE Opportunistic Credit II, an ACORE Capita–managed real estate debt fund, is seeking to raise up to $1 billion. The investment strategy for Credit II is to provide whole loans, mezzanine debt and preferred equity, while also investing in performing and nonperforming loans backed by real estate assets across the United States.
The Kansas Public Employees Retirement System allocated $100 million to Blue Owl Capital’s Real Estate Fund VII, which focuses on investing in industrial assets, with a smaller portion allocated to office and retail properties. Blue Owl Capital will be buying assets that are on
