KCERA commits $60m to real estate fund

Kern County Employees’ Retirement Association has committed $60 million to Landmark Real Estate Partners Fund VIII, according to Dominic Brown, executive director for the pension fund.

Landmark Real Estate Partners VIII fund is managed by Landmark Partners, a private equity and real estate investment company.

The fund has received commitments from additional institutional investors, including Minnesota State Board of Investment and Arkansas Teacher Retirement System.

The fund’s predecessor, Landmark Real Estate Partners VII, had a $1.6 billion final close in 2015, exceeding its $1 billion target. The Landmark VII fund was a closed-end, value-added fund that focused on secondary investments in U.S. properties.