Alameda County (Calif.) Employees’ Retirement Association (ACERA) has made a $40 million investment in CBRE Strategic Partners U.S. Value 9 on behalf of its value-add real estate portfolio, according to a recent board meeting document.
CBRE Strategic Partners U.S. Value 9, managed by CBRE Global Investors, is targeting $2 billion and will invest in institutional multifamily, office and retail properties in the United States.
Other recent pension fund investors in the fund include the Illinois Municipal Retirement Fund, the Arkansas Teacher Retirement System, the Montana Board of Investments and the Teacher Retirement System of Texas.
