Real Estate
The European core-plus real estate manager will help move the plan closer to its 15% real estate target.
Plan’s first non-core real estate commitment came at a special meeting on Monday.
Plan’s investment committee named a winner after interviewing two finalists.
New $4 million commitment was made to a new manager in February.
The search is due to the expiring contracts of two incumbents managing a total of $440 million.
Plan added a pair of direct lending commitments totaling $250 million and a $76.4 million European real estate commitment.
The plan committed $15 million each to new funds from existing managers.
Oaktree has also bought a minority stake in Veleta Capital.
The two commitments will be funded from the plan’s public equity portfolio.
The plan hired two real estate managers at its board meeting yesterday, completing a search launched last year.
