City of Fresno Retirement System makes $30m commitment to Blue Vista Capital Management
The City of Fresno Retirement System (CFRS), with $3.7 billion of assets under management, has committed $30 million to Blue Vista Real Estate Partners Fund (BVREPF) VI.
BVREPF VI, managed by Blue Vista Capital Management, is seeking $750 million and will invest with a value-add strategy in diversified property types in the United States, focusing on middle-market real estate.
CFRS had committed $20 million to BVREPF V in 2018.
BVREPF V closed in 2019 with $505 million of committed capital, more than its $500 million initial target.
As of June 30, CFRS had 10.3 percent ($380.4 million) allocated toward core real estate and 4.8 percent ($178.6 million) allocated toward value-add/opportunistic real estate.
For more information about this fund and others, visit the IREI.Q database.