SFERS makes $60m commitment to value-add fund

SFERS has strengthened its relationship with Milestone Group.

Institution: San Francisco Employees’ Retirement System
Headquarters: San Francisco, US
AUM: $6.78 billion
Allocation to private markets: 4.6%

The San Francisco Employees’ Retirement System has made a commitment to the Milestone Group.

The US-based public pension made a $60 million commitment to Milestone Real Estate Investors VI. The fund targets value-add multifamily real estate in the US and is targeting a $1 billion final close.

The firms previous vehicle Milestone Real Estate Investors V closed in May 2021 raising $750 million, surpassing its $500 million target size.

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