Investors - JUNE 6, 2013

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CCCERA invests $60 million in two real estate funds

by Sara Kassabian

The $5.95 billion Contra Costa County (Calif.) Employees Retirement Association (CCCERA) has invested in two new real estate funds from existing managers Long Wharf and Invesco Real Estate, confirms Marilyn Leedom, CEO of CCCERA. 

CCCERA committed $35 million to Invesco Real Estate Fund III. The value-added fund launched in 2011 with a $750 million fundraising goal. The fund will acquire class A and B properties in the industrial, office, multifamily and retail sectors across the United States. CCCERA previously invested in Invesco Real Estate Fund I and Invesco Real Estate Fund II, as well as the Invesco International REIT.

The pension fund also invested $25 million in Long Wharf Real Estate Partners IV (REP IV). This is the fourth in a series of value-added funds for Boston-based Long Wharf, formerly Fidelity Real Estate. REP IV will pursue distressed opportunities across most property types, includin

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