The $778 million Merced County (Calif.) Employees’ Retirement Association has committed $5 million to Rockpoint Real Estate Fund VI, according to Kristen Santos, retirement plan administrator.
Rockpoint Real Estate Fund VI is managed by Rockpoint Group, a Boston-based real estate private equity firm and investment adviser. It is a value-added, opportunistic real estate fund that invests in office, hotel and multifamily assets in major coastal markets in the United States.
The fund is the sixth fund in the real estate series. The previous fund, Rockpoint Real Estate Fund V, held a $3.3 billion final close in 2016, exceeding its $2.5 billion equity fundraising target.
Merced County has an actual allocation to real estate of 7.8 percent.
