Ohio Bureau of Workers Compensation (Ohio BWC) will be issuing a $50m (€42.9m) commitment to a US self-storage real estate fund managed by SROA Capital, according to a board meeting report by its consultant Meketa Investment Group.
It represents the first real estate fund investment this year by Ohio BWC, which had set out a pacing plan to invest $100m in value-add real estate funds and $240m in core property in 2025.
SROA Capital is seeking to raise up to $900m for SROA Capital Fund IX. Last year, IPE Real Assets reported that the self-storage fund had raised $730m in direct commitments and $200m in co-investment capital.
The fund will invest mainly in existing properties, but can also provide bridge loans.
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