The $100 million commitment made in 2022 is under review amid concerns over fund performance, manager concentration, and a limited LP base.
The firm reported a 14% QoQ increase in private wealth inflows, supported by growth across its evergreen funds and easing redemption pressure in its credit and real estate vehicles.
Incepted in 2021, Ares Pathfinder Core Fund is an evergreen asset-based lending vehicle that invests in liquid and illiquid opportunities.
The pension worked with Hamilton Lane on the secondary acquisition of an interest in the approximately $31 billion open-end real estate fund.
Real estate investment firm Brixton Capital contributed the property through a tax-deferred 721 exchange in return for partnership units.
The Canadian bank now holds 10.5% of Blue Owl Credit Income Corp. as shareholders sought to withdraw 16.8% of outstanding shares in Q3.
Harrison Street's process sold 91% of shares offered, with 41% transacting at a 15% discount to NAV versus the 20% initially requested.
The institutional investor plans an initial $200 million allocation, citing opportunities created by redemption pressures across wealth-channel credit funds.
BXPE US sold $527.9 million in LP interests on September 1, while its feeder raised $166.4 million, alongside subscriptions to other program vehicles.
The trust repurchased approximately $120 million of outstanding shares in Q1, representing around 1.5% of its $8.1 billion March NAV.
