Minnesota SBI approves $200m in commitments across two private real estate vehicles

The organization has made additional commitments to both Oaktree-managed real estate funds.

Institution: Minnesota State Board of Investment
Headquarters: St Paul, United States
AUM: $74.76 billion
Allocation to alternatives: 15.8%

Minnesota State Board of Investment committed an additional $200 million across two private real estate vehicles at its December 2020 investment board meeting. The institution also made commitments to both funds earlier this year, as previously reported by PERE.

The additional commitments comprised $100 million to Oaktree Real Estate Debt Fund III and $100 million to Oaktree Real Estate Opportunities Fund VIII. Both funds are managed by Oaktree Capital Management.

As illustrated below, Minnesota SBI’s recent real estate commitments have tended to focus on global vehicles targeting value-added and opportunity strategies. The organization allocates 1.4 percent of its full investment portfolio to private real estate.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.