Nebraska Investment Council, Lincoln, approved commitments to two alternative investment funds totaling $121 million, said Michael Walden-Newman, state investment officer, in an email.
The council, which oversees $37.1 billion, at its June 9 meeting approved a $64 million commitment to Oaktree Real Estate Opportunities Fund IX, a distressed credit real estate fund managed by Oaktree Capital Management, on behalf of its five defined benefit plans, which have a total of $15.5 billion in assets, its cash balance benefit plans totaling $2.7 billion, its $1.1 billion general endowments and its $501 million health care endowment.
In 2020, the council committed $56 million to Oaktree Real Estate Opportunities Fund VIII, a global opportunistic fund with a similar strategy to Fund IX, according to board documents.
The council also committed $57 million to The Resolute Fund VI, a middle-market buyout fund managed by The Jordan Co., on behalf of its defined benefit plans, its cash balance benefit plans and $1.4 billion Omaha School Employees Retirement System.
The council has made several commitments to previous Resolute funds, including most recently a $50 million commitment to Resolute V in 2020, board documents note.