SCERS approves $252m in committments

The US public pension is in the midst of rebalancing their real estate exposure while the real assets allocation is being built out.

Sacramento County Employees’ Retirement System (SCERS) has invested $252 million in two open-end real estate funds according to board meeting documents. SCERS sold six core separate account properties to acquire $152 million of shares in the Clarion Lion Property Fund and committed $100 million to the core plus Brookfield Premier Real Estate Partners. The latter fund is focused on the retail, industrial, office, diversified, multi family and residential sectors.

The $9.4 billion public pension has a 7 percent target allocation to private equity real estate that currently stands at 9.50 percent.

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