Oklahoma Firefighters Pension & Retirement System, Oklahoma City, committed $50 million each to TerraCap Partners V and Centerbridge Partners Real Estate Fund II.
The board of the Oklahoma firefighters' $3.4 billion pension fund approved the commitments at a meeting Jan. 15, according to Troy Brown, executive director at AndCo Consulting, the pension fund's investment consultant.
TerraCap Partners V is a value-added real estate fund managed by TerraCap Management, and the Centerbridge Partners fund is a real estate debt fund.
Both are first-time commitments to the managers, Mr. Brown said.
As of Dec. 31, the pension fund's actual allocation to real estate was 8.9%. Its target is 10%.