Oregon Investment Council, Tigard, which runs the $61.1 billion Oregon Public Employees Retirement Fund, Salem, committed $950 million to private equity and real estate funds, said James Sinks, investment council spokesman, in an e-mail.
The council committed up to $400 million to Lone Star Funds' real estate debt and distressed real estate fund Lone Star Fund VIII, $300 million to Apollo Global Management for the Apollo Investment Fund VIII and $250 million to Blackstone Tactical Opportunities.
Blackstone Tactical Opportunities' commitment will create a strategic managed account to invest in deals that are buffered from market fluctuations yet typically struggle to obtain traditional financing, such as smaller buyouts, financial institution breakups and reinsurance. The strategic account will stretch across asset classes including private equity, real estate and credit, and will invest alongside similar mandates and Blackstone's funds.
