Institution: Oklahoma Teachers’ Retirement System
Headquarters: Oklahoma City, US
AUM: $21.8 billion
Allocation to real estate: 7.3%
Oklahoma Teachers’ Retirement System approved $200 million in commitments to KKR and Starwood Capital during its recent board meeting.
The pension fund was targeting $100 million for core strategies in 2024 according to its real estate pacing plan. It has approved this $100 million to KKR Real Estate Partners Americas IV, which is targeting $4 billion and is expected to reach a final close in the first half of 2025.
For its non-core real estate strategy, the board was targeting $200 million for 2024. It has approved $100 million of this to Starwood Distressed Opportunity Fund XIII.
Miami-based manager Starwood Capital is aiming to raise $10 billion for the fund and expects to hold a first close by the end of March 2024. The pension fund had earlier revealed a commitment of $100 million to Landmark Real Estate Partners IX out of this portfolio in November 2023.
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