San Bernardino County Employees’ Retirement Association has agreed a real estate pacing plan for 2026, with possible total commitments of $155m (€132.6m), the pension fund stated in a board document.
The pension fund gave no assurances that all of this capital will be invested this year. San Bernardino County, together with its investment consultant NEPC, will recommend adjustments to the yearly real estate pacing commitment to maintain and manage the pension fund’s overall asset allocation target.
The pension fund’s real estate portfolio is currently valued at $642m or 3.8% of its total plan assets. The long-term allocation for the asset class is 5%.
A potential new commitment for San Bernardino County in 2026 is a $150m commitment into the Essential Housing Fund IV, as stated in the pension’s board meeting document.
This is a commingled fund managed by TPG Angelo Gordon. While the targeted capital raise for the fund is not known, it has stated that it will be investing in essential/workforce housing assets spread out across the US.
To read the latest IPE Real Assets magazine click here.
