The £165 million deal was completed through a joint venture, with Partners Group investing from its real estate secondaries strategy.
The FTSE 250-listed private equity fund is selling partial interests in five Oakley funds at a 5.75% discount to their March 31 carrying value.
The newly formed joint venture acquired an 87-building industrial portfolio across eight US markets, with GID retaining asset management responsibilities.
The strategy, anchored by a Korean institutional investor, has adopted an evergreen semi-liquid structure aimed at capturing emerging credit secondary opportunities throughout the cycle.
The European growth buyout investment manager closed a €635 million multi-asset CV earlier this year.
The private debt specialist, which operates a dedicated secondaries strategy, has reportedly held talks with several international investors.
The UK accountancy group is reportedly valued at more than £1 billion, with Penta retaining management of the asset after abandoning an earlier sale.
The deal will support the UK housebuilder's expansion toward 7,000 homes a year, with Apollo retaining control.
The deal marks Reality Growth's second investment since launching earlier this year as a dedicated GP stakes platform.
Neuberger's second real estate secondaries fund closed last year with more than $1 billion in commitments, according to SecLink Data.
