San Diego City Employees’ Retirement System (SDCERS) has set a $225m (€187.8m) real estate investment pacing plan for its fiscal 2026, which began on 1 July.
SDCERS disclosed in a board meeting document that it expects to commit a total of $50m to one or two core real estate funds, a move the pension fund hopes will maintain the pension fund’s core exposure and reduce its overall underweight position in the real estate asset class.
The pension fund said it is also redeeming the full $44m investment in the MetLife Core Mortgage Fund and its $39m investment in the Mesa West Core Debt Fund to free up capital for new core commitments and non-core debt investments.
SDCERS said the plan for fiscal 2026 also includes investing up to $50m in non-core debt and investing up to $120m in non-core equity real estate funds.
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