Oak Street seeks initial $2.5bn for open-ended net-lease property fund

Oak Street Real Estate Capital intends to raise an initial $2.5bn (€2.2bn) for its net-lease real estate fund, according to sources that track fundraising.

Teacher Retirement System of Texas said it has approved a $300m commitment to the open-ended Oak Street Real Estate Capital Net Lease Property Fund.

The $150bn pension fund said the investment was made last month as part of its core real estate strategy.

As previously reported, Pennsylvania State Employees’ Retirement System committed $300m to the fund.

IPE Real Assets has reported on the growing interest in net-lease strategies among US pension funds.

Oak Street specialises in the area and its strategy tends to involve acquiring single-tenant assets with long-term, inflation-linked leases.

Oak Street declined a request for comment.

Texas Teachers said it also approved a $200m commitment to the Westbrook Real Estate Fund XI. The mainly opportunistic fund will target various property types globally.

Westbrook’s Fund X raised $2.85bn at close in February 2016.

Westbrook did not respond to a request for comment.

Related images

  • Oak Street Real Estate Capital

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-2511

    Asset class: Commodities.
    Asset region: Global.
    Size: $10m.
    Closing date: 2019-02-25.

Begin Your Search Now