TCERA invites three fund managers to make finalist presentations

The US public pension will be extending invitations to three selected Value-add real estate fund managers to make presentations to the Board.

Institution: Tulare County Employees Retirement Association
Headquarters: Visalia, United States
Total AUM: $1.59bn
Allocation to Alternatives: 21.2%
Bitesize: $10-50m

TCERA has decided to invite American Realty, Oaktree Capital Management, and TA Realty to make finalist presentations to the Board, according to a representative within the organization. This decision was made following a presentation done by TCERA’s investment consultant Verus.

The $1.59 billion public pension currently allocates 21.2% of its funds to alternatives.

As illustrated in the charts below, TCERA has a 10 percent target allocation to private real estate that currently stands at 7.1 percent. The pension made a $15 million commitment to PIMCO BRAVO Fund with vintage year 2011. If a fund commitment to TA Realty is approved, it will be TCERA’s second commitment to the fund manager.

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