OCERS approves preliminary plan for real estate commitments, structure and ranges
The $15.7 billion Orange County (Calif.) Employees Retirement System has approved a preliminary plan for real estate commitments, structure and ranges, according to a board meeting report.
The key elements of the new plan approved by the investment committee include tactically rebalancing the portfolio toward a 60/40 mix of core/noncore, rebalancing geographical U.S. exposures while tactically considering non-U.S. opportunities, targeting new commitments of ± $75 million on average and limiting manager concentration to 15 percent of the total private real estate program.