San Francisco Employees’ Retirement System (SFERS) has started a new relationship with Sculptor Capital Management by committing to the manager’s latest real estate fund.
The pension fund disclosed in a meeting document that it has committed $50m (€45.4m) to the Sculptor Real Estate Fund V fund.
Sculptor Capital’s Fund V, an opportunistic real estate fund, will focus on acquiring alternative US assets such as gaming properties, hotels and senior housing.
Despite the new manager relationship, SFERS previously indicated that it will continue to prioritise existing managers, with 80% of its planned new investments earmarked for them.
As previously reported, SFERS is considering an allocation of up to $600m for real asset investments in fiscal 2025 year starting 1 July. The majority of the capital is expected to be allocated to real estate investments.
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