Institution: Kern County Employees’ Retirement Association
Headquarters: Bakersfield, US
AUM: $5.32 billion
Allocation to real estate: 2.6%
Kern County Employees’ Retirement Association has revealed its pacing plan for private real estate in 2024.
The US pension plan will allocate 20-50 percent of its real asset allocation to opportunistic real estate as well as a further 20-50 percent to value-add real estate across two to five managers, recent board meeting material showed. It will make commitments of between the sizes of $25 million and $40 million.
The US-based public pension has a current allocation of 2.6 percent to private real estate, which is well below its target allocation of 5 percent.
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