KCERA reveals real estate plans for 2024

The Bakersfield-based pension will allocate up to 50% to opportunistic real estate.

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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