Name: Stanislaus County Employees Retirement Association (StanCERA)
HQ: Modesto, US
AUM: $2.61 billion
Allocation to real estate: 12.8%
Stanislaus County Employees Retirement Association (StanCERA) has approved a commitment of $20 million to TA Realty Value-Add Fund XIII, according to the pension fund’s recent meeting materials.
The vehicle, which has a value-add strategy, will invest across all property types but will be focusing on industrial and multifamily properties across the US. Founded in 1982, TA Realty is based in Boston and specializes in investing into real estate.
The pension fund has a 12.5 percent target allocation to real estate with sub-asset class target allocations of 6.5 percent to core real estate and 6 percent to value-add real estate. This commitment to TA Realty will be included in the 6 percent target allocation to the value-added strategy, according to StanCERA.
The pension has also revealed its pacing plan and that the total commitments to private real estate by December 2023 will be $30 million and December 2024 will be $30 million.
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