Oklahoma Teachers' Retirement System, Oklahoma City, committed $100 million to Blackstone Real Estate Partners X, said Sarah Green, executive director of the $20.7 billion pension fund.
The commitment to the real estate opportunistic fund was made at a board meeting May 25 and represented the retirement system's first commitment to Blackstone, Ms. Green said in an email.
The board also committed an additional $500,000 to L&B Golden Driller Fund, a real estate fund managed by L&B Realty and the retirement system. The commitment would cover upcoming operational expenses, Ms. Green said.
As of May 31, the pension fund's allocation to real estate was 7.9%; its target is 10%.
