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The Los Angeles-based manager is angling itself for another round of volatility, says Justin Guichard, co-portfolio manager of the platform.
The gap between target and actual allocations to the asset class is wider than ever, according to the firm’s annual investor survey.
The Korean pension is giving the New York manager a mandate to invest in several strategies, including $500m for "market shifts and technology disruptions."
The strategic partnership is the first investment the Investcorp Strategic Capital Group has made into a real estate manager.
The newly listed asset manager acquired the Chicago-based net lease specialist for $1.6bn. Oak Street says the deal paves the way for further growth.
While the New York-based investment manager has been able to deploy its funds rapidly, other groups have not found the opportunity set they expected.
Large pools of capital have been raised for distressed strategies, but thanks to government support schemes, finding a home for it is proving a challenge.
The oversubscribed vehicle attracted commitments from institutional investors and high-net-worth individuals alike betting on a hospitality comeback.
Historically, real estate has performed well when prices rise, but the pandemic era raises unique questions and challenges.
With the pandemic opening up secondary opportunities, the Los Angeles-based firm went on a performing loan buying spree for its $650m strategy.