The San Mateo County (Calif.) Employees’ Retirement Association has approved a $30 million commitment to Invesco U.S. Value-Add Fund V, according to a board meeting document on the pension fund’s website.
Invesco U.S. Value-Add Fund V, managed by Invesco Real Estate, will invest in value-added real estate properties in the United States.
Established in 1983, Invesco Real Estate manages global investments in direct real estate, real estate securities including equity and debt, infrastructure securities and master limited partnerships.
San Mateo County previously committed $30 million to the fund’s predecessor, Invesco U.S. Value-Add Fund IV, which held a $750 million final close in 2016, exceeding its $500 million fundraising target.
