Oregon PERF commits $400m to alternative, opportunistic strategies

The Oregon Public Employees Retirement Fund (Oregon PERF) has approved $400m (€383.3m) in new commitments for its alternative and opportunity asset classes.

The fund mad commitments of $150m to Starwood’s Energy Infrastructure Fund III and $100m to Homestead Capital USA’s Farmland Fund II.

A commitment of $150m was made to Lone Star’s Fund X.

Starwood is raising capital for Fund III through its Starwood Energy Group, which has an opportunistic strategy.

It can buy existing assets or invest in developments.

The fund, which will be investing in a mixture of energy infrastructure assets, focuses on natural gas and renewable power generation and transmission assets, typically in the US.

Starwood Energy’s equity investments range from $50m to $200m or more, the middle-market that the fund manager believes affords more diverse opportunities, negotiated transactions and attractive values.

The commitment from Oregon PERF to Homestead Capital USA represented 25% of the fund’s $400m capital raise.

The original targeted capital raise was $350m, which more than doubled its size of the manager’s debut fund.

The fund focuses on US assets.

The manager’s first fund owns a portfolio of farms across 11 states producing 16 different crops.

Homestead will focus on making row and permanent crop farmland investments in the Mountain West, Pacific, Midwest and Delta regions.

Homestead looks to create value and is committed to preserving the value of farmland over the long term by adhering to sustainable farm-management practices.

Lone Star plans to raise $6bn for Fund X, which has a global investment strategy, making investments in distressed debt.

Assets in the fund will be held for 2-5 years.

Limited partners are projected to achieve a gross IRR of 25%.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2398

    Asset class: Real Estate.
    Asset region: The client will consider: Europe ex. UK, Europe incl. UK and UK Only Funds.
    Size: EUR 60 - 100 million per investment.
    Closing date: 2018-01-31.

  • QN-2401

    Asset class: All/large Cap Equities.
    Asset region: Global Developed Markets.
    Size: $100m.
    Closing date: 2018-02-02.

Begin Your Search Now