for its latest opportunity fund and has already made several investments, including one made prior to the COVID-19 pandemic.
According to a Nebraska board meeting document, the fund had invested $540m by the end of September. This included a $196m investment in a $431m acquisition of bonds held by a mortgage real esate investment trust.
Oaktree is targeting net returns of 16% to 17%.
Kayne Anderson is looking to raise $2bn for Partners VI which is focusing on medical offices, and senior and student housing.
It will target gross returns of 18-20% by investing in under-managed and under-capitalised assets that can be improved, using up to 65% financial leverage.
Nebraska Investment Council sows $96 million with 2 real estate funds
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Nebraska Investment Council, Lincoln, made two real estate commitments totaling $96 million at its board meeting Thursday, Michael Walden-Newman, state investment officer, said in an email.
The council, which oversees $31.4 billion in assets, committed $56 million to Oaktree Real Estate Opportunities Fund VIII, a closed-end, non-core, distressed credit real estate fund managed by
Oaktree Capital Management. The commitment was made on behalf of the five defined benefit plans under council supervision, which have a total of $13.5 billion in assets; the state s cash balance benefit plans, totaling $2.4 billion; and its $977 million general endowment and $431.6 million health-care endowment, according to board documents.