Anna-Marie Beal
Ventura County Employees Retirement Association also made a $75m allocation to multi-sector-focused debt strategy VWH Master Fund IV during the period.
The fund has a meaningful allocation to alternative sectors, says Jon Lindell, executive vice-president.
The firm’s chief economist Ryan Severino says retail will exceed investor expectations.
Industry veteran Brad Cohen will be integral for risk management and identifying growth opportunities.
The firm raised approximately $1.2bn for CRED III, which is already over 40% deployed.
The $11bn pension fund will be launching searches for managers imminently.
The system has rebalanced its portfolio, increasing its private real estate debt target and decreasing that of its core real estate by 2% each way.
The New York-based manager aims to tap into credit opportunities arising outside of the US.
Lotus, a New York-based advisory, arranged the loan on behalf of Monroe Capital and Witkoff Group.
Debt funds and alternative lenders step into the space left by banks, Real Estate Capital USA data shows.