Nebraska Investment Council, Lincoln, made two real estate commitments totaling $96 million at its board meeting Thursday, Michael Walden-Newman, state investment officer, said in an email.
The council, which oversees $31.4 billion in assets, committed $56 million to Oaktree Real Estate Opportunities Fund VIII, a closed-end, non-core, distressed credit real estate fund managed by Oaktree Capital Management.
The commitment was made on behalf of the five defined benefit plans under council supervision, which have a total of $13.5 billion in assets; the state's cash balance benefit plans, totaling $2.4 billion; and its $977 million general endowment and $431.6 million health-care endowment, according to board documents.
Also, the council made a $40 million commitment to Kayne Anderson Real Estate Partners VI, an opportunistic real estate fund managed by Kayne Anderson Capital Advisors, on behalf of its defined benefit and cash balance plans, board document show.
