Oregon Investment Council, Tigard, on Wednesday committed $200 million to Blackstone Capital Partners VI and $100 million to Angelo Gordon Asia Realty Fund II.
The $200 million commitment is the first made to a Blackstone fund by the council, which oversees the $51.5 billion Oregon Public Employees’ Retirement Fund, Salem. Blackstone said last week it probably will raise about $13.5 billion for the fund.
Tony James, Blackstone president and COO, told the Oregon council on Wednesday that his firm had agreed to a “special fee structure” for Oregon, which he subsequently will offer to other investors.
The new fund is about 40% smaller than Blackstone’s most recent pool, which had $21.7 billion in commitments and was raised in 2007.
Most of Angelo Gordon fund’s investments will be in China, while Japan will get about 30% and South Korea 10% to 15%, said Keith Barket, senior managing director for Angelo, Gordon.
“I’ve known Angelo, Gordon over the years domestically and they have a very good fundamental approach to real estate investing,” Brad Child, the council’s senior investment officer for real estate, told the council.