South Carolina Retirement System has become a limited partner in Sculptor Real Estate Fund V with a $100m (€89.7m) commitment, according to documents filed by the pension fund.
This commingled fund focuses on opportunistic real estate, investing in gaming assets, hotels and senior housing.
Through the first half of 2024, South Carolina had a real estate portfolio valued at $3.4bn, accounting for 7.7% of its total plan assets, with a target allocation for the asset class of 9%.
South Carolina has just started a new asset allocation study, conducted by the pension fund and its investment consultant, Verus. This may see it change its overall asset allocation over the next several months, possibly inlcuding its real estate portfolio.
A final decision on the new asset allocations is projected to be made by the pension fund in April of next year.
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