Oregon Public Employees Retirement Fund (PERF) has approved $1bn (€978m) worth of new real estate commitments, according to the Oregon Investment Council’s meeting document.
The pension fund made a $300m commitment to the Blackstone Real Estate Partners X fund, allocated $200m to Windsor Columbia Realty Fund, a US apartment separate account relationship with manager GID, made $350m worth of commitments to Harrison Street and a $150m commitment to Columbia Office Properties, a separate account managed by Clarion Partners.
Blackstone disclosed during a second-quarter earnings call that it had so far raised $24bn for Partners X, its latest global real estate fund, adding that it has a $30.3bn fundraising target for the fund.
Oregon PERF’s allocation to Harrison Street comprises placing $150m into the Harrison Street Real Estate Partners IX fund to target specialised property types like life science, self-storage and student and senior housing assets, and committing $200m to the Harrison Street US Separate Account to invest in medical office and life science assets.
The Columbia Office Properties separate account will mainly invest in core assets.
As previously reported, Oregon PERF intends to invest up to $1.7bn in real estate this year.
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