CCCERA commits $80m to value-add secondaries fund

The US pension fund confirmed a commitment of $80m.

Institution: Contra Costa County Employees’ Retirement Association
Headquarters: Concord, US
AUM: $10.09 billion
Allocation to real estate: 5.86%

Contra Costa County Employees’ Retirement Association has revealed an $80 million commitment to Blackstone Strategic Partners Real Estate Fund VIII in their latest meeting materials.

The fund was launched in April 2022 and is targeting an IRR of mid to high teens.

Founded in 2000, Blackstone Strategic Partners (formerly Credit Suisse Strategic Partners) is a global investor in the secondary private equity market and provides liquidity to investors globally. Blackstone Strategic Partners acquired Credit Suisse Strategic Partners in August 2013.

As shown below, CCCERA’s recent real estate commitments have focused on North American value-add vehicles.

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