Andrew Hedlund
Real estate debt looks well positioned compared with corporate debt, maintains Justin Guichard of Oaktree Capital in this interview shot at sister publication PDI's New York Forum.
The real estate lender is charging a 1.5% management fee, according to Arkansas pension fund documents.
The partnership will see a geographic mix across the US and Europe, which will let BBDC access investments with different levels of yield.
The Los Angeles-based investment firm admitted that the growth of its real estate platform lags behind its more established credit and private equity businesses.
The New York-based investment bank and newly-formed Stonyrock are the latest entrants into the booming sector of taking non-control positions in private markets managers.
With the addition of Oaktree, a respected credit business, Brookfield has shown how debt investing has risen to prominence post-global financial crisis and become crucial for being a global diversified asset manager, reports PERE's sister title Private Debt Investor.
The firm’s latest credit vehicle has already significantly outpaced its predecessor fund, which closed on $695m.
The New York-based firm has raised almost $1bn for its latest fund targeting the strategy.
The firm is seeking €100m more than it raised in its previous fund.
The San Mateo retirement plan needs to increase allocations to the value-add real estate strategy to hit its 10% allocation target.