Institution: Alameda County Employees’ Retirement Association (ACERA)
Headquarters: Oakland, US
AUM: $8.68 billion
Allocation to alternatives: 19.8%
Alameda County Employees’ Retirement Association approved commitments of $35 million to Artemis Real Estate Partners Income & Growth Fund, $35 million to AEW Partners Real Estate Fund IX and $25 million to Artemis Real Estate Partners Healthcare Fund II, according to a document from a board/investment committee meeting in February. The pension will also consider committing an additional $125 million to core strategies, which would bring ACERA to its 8 percent real estate target allocation by mid-to-late 2022.
The $8.68 billion US public pension currently allocates 7 percent of its investment portfolio to private real estate.
As illustrated below, ACERA devotes 19.8 percent of its portfolio to alternative assets. The pension has a strong appetite for funds that target properties throughout North America across diversified sectors including healthcare, retail and multifamily.
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