The San Diego City Employees Retirement System (SDCERS) is planning to make $70 million of new noncore real estate commitments in fiscal year 2022, according to investment notes from a recent meeting.
SDCERS is also planning to make $70 million of annual noncore commitments in fiscal years 2023, 2024 and 2025.
The target will be to invest in two funds, with an average commitment size of $35 million per fund. However, the number and size of actual fund commitments will depend on the opportunity set and fundraising timing for high conviction strategies over the coming fiscal year.
SDCERS will also consider re-up commitments to high conviction managers already represented in the portfolio.
The pension fund s
