TCERA approves $75m commitment

The US public pension has backed a real estate debt fund.

Institution: Tulare County Employees Retirement Association
Headquarters: Visalia, United States
AUM: $1.62bn
Allocation to alternatives: 16.70%
Bitesize: $10-50m

Tulare County Employees Retirement Association has agreed to commit to Invesco’s Commercial Mortgage Income Fund, a contact at the pension informed PERE.

Invesco has been selected to manage the institution’s real estate debt allocation, which constitutes approximately five percent of TCERA’s assets.

The $1.62 billion US public pension has a 20.0 percent target allocation to alternative investments that currently stands at 16.7 percent.

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