SDCERS increases exposure to multifamily sector

San Diego City Employees' Retirement System increases its exposure to the multifamily sector to 28%.

Name: San Diego City Employees’ Retirement System
HQ: San Diego, US
AUM: $10.02 billion
Allocation to real estate: 12.1%

San Diego City Employees’ Retirement System committed $25 million to Waterton Residential Property Venture XV, according to its latest meeting materials.

This commitment will increase SDCERS’s exposure to the multifamily sector to approximately 28%, and will strengthen its partnership with the retirement system having committed to the fund’s predecessor, Waterton Residential Property Venture XIV.

Waterton is a real estate investment and property management company with a primary focus on US multifamily properties, as well as separate senior living and hospitality strategies. The firm was founded in 1995 by industry veterans David Schwartz and Peter Vilim to invest in multifamily value-add strategies. Waterton is headquartered in Chicago, Illinois, and has regional teams across the US.

SDCERS’s recent investments predominantly focus on North American value-add vehicles.

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