SBCERS to commit $60m to real estate funds

The US public pension plans to make up to $60 million in fund commitments in 2020.

Institution: Santa Barbara County Employees’ Retirement System
Headquarters: Santa Barbara, United States
AUM: $2.94bn
Allocation to alternatives: 37.10%
Bitesize: $10-50m

Santa Barbara County Employees’ Retirement System intends to commit up to $60 million to real estate, according to the institution’s March 2020 Retirement Board meeting document. The public pension is aiming to invest in funds that would add value by exploiting distress or other unique market conditions, while not being restricted to domestic opportunities. Core investment strategies will not be considered due to apprehension about pricing and fundamentals.

The $2.94 billion US public pension currently allocates 10.3 percent of its investment portfolio to private real estate. The pension fund also invests in assets classes such as infrastructure and private equity.

As illustrated below, SBERS’ recent commitments have been made to funds that focus on value added strategies in North America.

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