SBCERA’s 2022 real estate pacing plan

The US public pension plans to commit $110m to PE vehicles this year.

Institution: San Bernardino County Employees’ Retirement Association (SBCERA)
Headquarters: San Bernardino, United States
AUM: $14.11 billion
Allocation to real estate: 3.8%

San Bernardino County Employees’ Retirement Association (SBCERA) approved its 2022 real estate pacing plan at its January 2022 board meeting, a contact at the pension confirmed to PERE.

Highlights from SBCERA’s January 2022 board meeting:

  • The recommendation, put forth by its investment consultant NEPC, suggests the pension fund is set to make commitments of $110 million to real estate in 2022 while maintaining real estate’s allocation.
  • Currently, the real estate portfolio net asset value is approximately $514 million – about 3.6 percent of the total portfolio as of September 30, 2021. The long-term strategic target allocation is 5 percent with a range of between 0 percent and 10 percent.
  • 55 percent of SBCERA’s current sub-strategy investments are allocated to core private real estate while 45 percent is allocated toward non-core private real estate, based on net asset value.

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