Oregon Investment Council, Tigard, which runs the $68.2 billion Oregon Public Employees Retirement Fund, Salem, committed up to $125 million to Och-Ziff Capital Management Group's Och-Ziff Real Estate Fund III, said James Sinks, council spokesman.
The fund has a $1 billion target and a $1.5 billion hard cap, according to agenda materials for the council's May 28 meeting. The real estate fund is an opportunity fund including investment in properties, loans, operating companies, structured debt and public securities. This is the council's first investment with Och-Ziff. Pension Consulting Alliance, the council's real estate consultant, assisted.