The New York-based investment manager will continue to operate within SoftBank as an independent business with Fortress’s senior investment professionals remaining in place.
The Australian commercial real estate debt investment manager has raised half of its fundraising target for its debut commingled close-ended fund.
Canyon Partners, which oversees CalPERS’ emerging manager platform, chose an industrial real estate-focused firm.
The Houston-based firm had a $400m-$500m target for the latest vehicle in the series.
The US public pension has backed a North American focused fund.
The firm is aiming to raise three times as much capital as its debut value-added fund.
The CFO of Brookfield Asset Management said the firm held a $1bn close for its new core-plus strategy in Q4.
The US public pension will review recommendations in their next meeting for approval
The Washington, DC-based firm is also marketing its latest opportunistic fund.
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