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Oregon Public Employees has committed $50 million to Guggenheim Structured Real Estate's first value-added fund
Real Estate Alert, June 2, 2004
Oregon Public Employees has committed $50 million to Guggenheim Structured Real Estate's first value-added fund. The vehicle hopes to finish equity raising in July with $300 million, primarily from U.S. institutions. It will have up to $1 billion of buying power through the use of leverage, and will target performing debt, mezzanine loans, commercial mortgage-backed securities and high-yield debt secured by U.S.
real estate. The fund is targeting average annual returns of 15%. The $43.6 billion Oregon pension plan has $2.5 billion, or 6.8% of its holdings, invested in real estate. Pension Consulting Alliance is its consultant.
COPYRIGHT 2004 Harrison Scott Publications, Inc.
COPYRIGHT 2008 Gale, Cengage Learning
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