OCERS makes series of changes to real estate

The US public pension made changes to its private real estate strategy, portfolio and appetite.

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.

Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.