Orange County Employees Retirement System (OCERS) approved a $75m (€64.6m) commitment to Kayne Anderson’s latest real estate equity fund as part of the fund’s $5.12bn final close last month.
According to a board meeting document from OCERS, the pension fund’s real estate consultant, Townsend Group, reported that the Kayne Anderson Real Estate Partners VII fund has already deployed $1.8bn.
The capital has been used to acquire 26 assets across the medical office, student housing, multifamily development and light industrial sectors.
The commitment to Partners VII, the pension fund’s first non-core real estate investment of 2026, came out of a total $225m allocation planned for the sector this year.
OCERS has also backed EnCap Investments’ EnCap Energy Transition Fund III with a $75m infrastructure commitment.
EnCap is seeking to raise $1.5bn to target US mid-market control investments, primarily focusing on utility-scale solar, battery storage and distributed generation. Capital may also be deployed into digital infrastructure and powered land backed by renewable energy.
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