SJCERA approves $40m commitment

The US public pension has backed a value-add fund focused on the industrial sector.

Institution: San Joaquin County Employees Retirement Association
Headquarters: Stockton, US
AUM: $3.28 billion
Allocation to alternatives: 20.7%

San Joaquin County Employees Retirement Association has approved a $40 million commitment to Berkeley Partners Value Industrial Fund V, according to the institution’s November 2020 board meeting document.

As previously reported by PERE, SJCERA plans to commit, on average, $71 million annually to value-add vehicles. The pension has a 12 percent target allocation to private real estate, with a current allocation of 8 percent.

As illustrated below, the pension’s recent private real estate commitments have been mainly to funds focused on investments in North America.

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