Incepted in 2021, Ares Pathfinder Core Fund is an evergreen asset-based lending vehicle that invests in liquid and illiquid opportunities.
The $100 million commitment made in 2022 is under review amid concerns over fund performance, manager concentration, and a limited LP base.
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.
The package would expand performance fees, update interval fund rules, and simplify multi-class structures, while reviewing accredited investor eligibility.
