Investor watch: CPP Investments leads credit-focused commitments

Pennyslyvania Public School Employee's Retirement System have made the second largest investor commitment so far this year, with $200bn committed to the PIMCO Commercial Real Estate Debt Fund II as of September 5th.

CPP Investments was the most active allocator to commercial real estate credit funds through the end of August, according to Real Estate Capital USA data. The investor committed $585 million to Harbor Group International’s multifamily-focused HGI Multifamily Credit Fund, a strategy for which the Norfolk, Virginia-based investor has raised about $1.6 billion.

There continues to be a significant number of credit strategies in market, including offerings from Bridge Investment Group, Madison Realty Capital, FCP and Berkshire Residential Investments. Meanwhile, GID is seeking about $1.25 billion for a real estate credit fund, with Related Fund Management looking to raise a similar amount for its fourth credit-focused strategy.