SDCERS to commit $100m to real estate in 2024

The pension is targeting three or four investments in the asset class.

Institution: San Diego City Employees’ Retirement System
Headquarters: San Diego, US
AUM: $11.13 billion
Allocation to real estate: 10.5%

San Diego City Employees’ Retirement System revealed its 2024 private real estate pacing plan during its recent investment committee meeting.

The pension will aim to make three or four commitments this year for a total of $100 million. Of this total, $50 million-$75 million will be invested through non-core real estate strategies supported by favorable demand trends and/or demographics. Targeted sectors include residential, logistics, healthcare, self storage, data center, hospitality and neighborhood/community retail. The other $25 million-$50 million will be aimed towards structured real estate debt investments.

The $11 billion pension currently has a 10.5 percent allocation towards private real estate investments.

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