Oaktree Real Estate Debt Fund Receives $100M from Oklahoma TRS

Alternative investment manager Oaktree Capital Management’s Oaktree Real Estate Opportunities (OREC) Fund IX received a $100 million commitment from the $20.7 billion Oklahoma Teachers’ Retirement System.

The fund seeks to raise $6 billion, an increase from the $4.7 billion raised by OREC Fund VIII in March 2021 (the fund had a target fundraising goal of $3.5 billion).

OREC Fund IX will undertake opportunistic investments across global markets, with a particular emphasis on debt secured by real estate in Australia, China, Denmark, Germany, Japan, the Netherlands, Poland, South Korea, and the United Kingdom.

The Oklahoma Teachers’ Retirement System has a policy of allocating 10% of its portfolio to real estate. However, as of June 30, the fund’s real allocation was 7.7%.

Oaktree had $179 billion in assets under management as of the end of June. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities.