Sacramento County Employees’ Retirement System (SCERS) plans to invest $210m (€184m) in real estate in the current year according to the pension fund’s board meeting document.
Part of the pension fund’s real estate plan for 2022 involves investing $120m in total into two or three core/core-plus open-ended funds which target sector specialists such as multi-family and life sciences assets.
SCERS also intends to place $90m into two or three non-core closed-ended funds.
According to the meeting document, the $12.6bn pension fund is also considering re-balancing its existing core/core-plus open-ended real estate portfolio to help enhance the overall portfolio diversification.
The pension fund also is considering to increasing its non-US real estate portfolio from 30% to 35% to help diversify the overall real estate portfolio globally and take advantage of opportunities outside of the US.
At the moment, international real estate accounts for 27% of the pension fund’s real estate portfolio.
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