SJCERA terminates contract with real estate consultant

The US public pension has agreed to cut ties with StepStone.

Institution: San Joaquin County Employees’ Retirement Association
Headquarters: Stockton, United States
AUM: $3.13bn
Allocation to alternatives: 12.70%
Bitesize: $10-50m

San Joaquin County Employees’ Retirement Association has agreed to part ways with StepStone, as mentioned during the institution’s January 2020 Retirement Board meeting. The responsibility of real estate consulting has been assigned to its general consultant, Meketa, which is now reflected in the consultant’s revised contract.

As illustrated below, SJCERA has made two commitments to private real estate funds with a 2017 vintage, which combined constitute $75 million. Ms. Johanna Shick is the current Chief Executive Officer.

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