The Contra Costa (Calif.) County Employees' Retirement Association (CCCERA) recently made a $75 million commitment to PCCP Equity IX, a closed-end opportunistic real estate strategy focused on the North American market.
PCCP Equity IX will invest primarily in the four main real estate food groups — office, industrial, multifamily and retail/mixed-use — according to a board-meeting document. The fund expects to make 40 to 50 investments, with an average deal size of $25 million to $30 million in equity commitments.
CCCERA now has a 5 percent allocation to this segment of real estate. This commitment represents a new relationship for the pension fund.
For more information about this commitment or others, visit the IREI.Q database.
