Minnesota State Board of Investment (SBI) is planning to make $325m (€300.3m) worth of commitments to real estate and infrastructure funds managed by Oaktree Capital Management and Blackstone, respectively.
The pension fund disclosed in a meeting document that it is considering commitments of up to $175m into Oaktree Real Estate Opportunities Fund IX and $150m into Blackstone Energy Transition Partners IV.
The global Oaktree Capital fund, which has a $5bn fundraising target, is expected to deploy capital by acquiring distressed debt or discounted securities, providing rescue capital, or by participating in equity recapitalisations.
The fund manager declined a request for comment.
The Blackstone fund expects to raise $6bn. The global fund will be investing in a diversified portfolio of infrastructure assets.
Blackstone’s Fund IV will focus on 10-15 investments, each averaging $300-$500m in equity commitment.
Blackstone did not respond to a request for comment.
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