Oregon Investment Council, Tigard, which runs the $76.8 billion Oregon Public Employees Retirement Fund, committed more than $1.4 billion to six alternative investment funds, CIO Rex Kim reported to the council Wednesday.
The council committed $350 million to Oaktree Capital Management's opportunistic private credit fund OCM Opportunities Fund XI and $300 million to distressed investment fund Oak Hill Advisors Tactical Investment Fund.
It also committed $250 million each to hedge fund FORT Global Trend managed by FORT Investment Management and TPG Growth V, a growth equity and middle-market buyout fund.
The council committed $150 million to middle-market direct lending fund Owl Rock Capital Corporation III managed by Owl Rock Capital Partners and $125 million to middle-market direct lending fund Sixth Street Specialty Lending Europe II managed by Sixth Street Specialty Lending.
Separately, the council extended Callan's general investment consulting contract for the Oregon Savings Growth Plan, its $2.5 billion 457 plan. Callan was initially hired for a three-year contract on Sept. 1, 2017 which expires on Aug. 31. The contract was extended for two years until Sept. 1, 2022.