Boston Retirement System has committed $20 million to Oaktree Real Estate Debt Fund III, a real estate debt fund managed by Oaktree Capital Management, confirmed John Kelly, investment analyst for the $5.3 billion retirement system.
NEPC, investment consultant for the retirement system, assisted in the search.
The board issued an RFP in October 2019 looking to allocate to a closed-end real estate debt fund.
Torchlight Investors and PCCP were the other finalists that made presentations at the board’s September meeting.
