City pension plan commits to four real estate funds
The $19.99 billion San Francisco Employees Retirement Board committed $285 million to real estate at a closed meeting during fourth quarter 2014, according to a recently released CIO report.
The largest commitment was a $100 million investment with KSL Capital Partners IV. The recently launched fund, which had already raised $969.7 million by Jan. 12, according to an SEC filing, targets hotel and leisure properties. A fundraising target was not disclosed in the filing, though the fund’s predecessor, KSL Capital Partners III, held a $2 billion final close in 2011, exceeding its $1.5 bi