Justin Slaughter
The former co-head of credit at Lone Star Funds will lead the new joint venture.
The Los Angeles-based firm is said to be tying up the sale as it rolls out its new senior debt fund.
The structured credit deal raised roughly as much as its previous CLO vehicle, which closed on $612m in April.
The pension also approved a $50m commitment to CapitalSpring Investment Partners V.
The Brookfield vehicle has so far brought in $2.43bn and is targeting $3bn – nearly double the size of its predecessor.
Borrowers are being allowed to borrow larger amounts of capital in addition to the original debt facility.
The strategy focuses on ‘underserved’ real estate spaces like office and medical.
The hire comes as the firm is raising capital for its $6.5bn distressed fund.
This deal follows on the heels of its largest one-loan facility to date to PetVet.
The asset manager’s credit businesses had $29bn in assets as of the first quarter of 2017.