Kern County pension fund makes $140M investments to real estate across TPG Angelo Gordon, Sculptor & Covenant Capital funds

8/23/2024

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IREI

• Subcategory: Capital Markets: Debt, Capital Markets: Equity

• Tag: Investment | New Fund

• Additional Filters-Subcategory: Capital Markets: Fund-Debt, Capital Markets: Fund-Equity, Capital Markets: Fund-Value Added

• Company: TPG Angelo Gordon, Covenant Capital Group

Kern County Employees’ Retirement Association has made four commitments on behalf of its real estate portfolio.

The pension fund allocaed $50 million to TPG Angelo Gordon Essential Housing Fund III, a real estate debt fund that invests in housing properties managed by Angelo, Gordon & Co.

Approximately $50 million is allocated to the Sculptor Real Estate Fund V (opportunistic real estate strategy), and $10 million to the co-investment fund Sculptor Real Estate Fund V Co-Invest. Both funds are managed by Sculptor Real Estate, the New York-based private equity real estate firm formerly known as Och-Ziff Real Estate.

Additionally, $30 million is allocated to Covenant Fund XII, a real estate value-added fund managed by Covenant Capital Group.