Investors - JULY 2, 2020

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OCERS backs Waterton Residential Property Venture XIV

by Kali Persall

The $16.2 billion Orange County Employees Retirement System (OCERS) recently committed $75 million to the Waterton Residential Property Venture XIV, a value-added fund managed by Waterton.

Launched in March, Waterton Residential Property Venture XIV is structured as a Delaware onshore LP vehicle and is believed to be targeting $1.25 billion, according to IREI’s FundTracker database.

OCERS is the latest in a series of U.S. pension funds to make commitments to the fund. Others include the Los Angeles City Employees Retirement System, the Kansas Public Employees Retirement System, the Maryland State Retirement and Pension System, and the Ohio Police & Fire Pension Fund.

OCERS could not be reached to comment on the investment at the time of publication.

As of March 31, the pension fund had a 13.8 percent allocation to the real assets class, which includes real estate, against a 17 percent target. The real assets portfolio was valued at $2.2 billion.

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