The San Francisco Employees’ Retirement System has approved a $150m (€133.5m) commitment to the CIM Group’s SF Real Estate limited partnership, according to a board meeting document.

CIM is known mostly as an investor in urban US properties, active in San Francisco, Los Angeles, Chicago, New York City and Washington DC.

The real estate manager mostly invests in value-add and opportunistic real estate, buying existing properties or investing capital in new developments.

With the latest commitment, San Francisco has now made five separate investments with CIM.

As of the end of 2015, the value of the portfolio the manager oversees for the pension fund was $193.9m.

San Francisco awarded CIM a takeover account of a separate account portfolio in June this year.

The $701.3m equity separate account had been previously managed by Deutsche Asset Management’s Alternatives and Real Assets.

Properties in the portfolio included core and value office, industrial, retail and apartment assets.