SBCERS outlines 2021 private real estate strategic plan

The US public pension plans to capitalize on unique market conditions.

Institution: Santa Barbara County Employees’ Retirement System
Headquarters: Santa Barbara, US
AUM: $3.58 billion
Allocation to alternatives: 25.19%

Santa Barbara County Employees’ Retirement System intends to commit up to $60 million to real estate, as mentioned during its February 2021 retirement board meeting. The strategic plan was put forth by its consultant ORG Portfolio Management, which manages its real estate portfolio.

SBCERS is aiming to invest in core, value-add and opportunistic funds that would add value by exploiting unique market conditions caused by covid-19 related distress. SBCERS will also consider investments of up to $15 million in international opportunities.

The $3.58 billion US public pension has a 10 percent target allocation to private real estate which currently stands at 8.8 percent.

As illustrated below, SBCERS’ recent commitments have been made to funds that focus on value-add strategies in North America. The pension’s chief executive officer is Greg Levin.

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