San Joaquin County Employees Retirement Association (CERA) plans to commit a total of $130m (€112.1m) to real estate in 2026.
Meketa Investment Group disclosed in the $4.67bn pension fund’s meeting document that next year’s plan involves issuing two to three commitments to non-core closed-end real estate funds.
The investment consultant highlighted self-storage and manufactured housing, which can be easily aggregated; data centre development with long-term, high-credit leases; and build-to-suit medical office properties near top hospitals in busy suburbs as areas with current opportunities.
San Joaquin County has set a new sub-allocation for infrastructure within its aggressive growth assets portfolio, moving the target from zero to 5% of the portfolio.
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