Orange County Employees Retirement System made a series of changes to its private real estate strategies, portfolio and appetite at its May 2018 meeting. The board approved a mix of 60 percent core and 40 percent non-core strategies and rebalanced its exposure to the US assets to consider additional non-US opportunities. In addition, the board decided to target new commitments with an average size of 75 million, limiting manager concentration to a maximum of 15 percent of its total real estate portfolio.
The $15.7 billion US public pension has a 16 percent current allocation to private real estate.
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