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Investors - JUNE 30, 2015

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OCERS commits $125m to real estate

by Zoë Wolff

The Orange County Employees’ Retirement System has committed $125 million to two real estate funds, according to recent meeting documents.

The $11.95 billion pension fund has committed $75 million to Waterton Residential Property Venture XII and an additional $50 million to True North Real Estate Fund III, following an initial $50 million commitment in January 2014.

True North Real Estate Fund III has a $650 million fundraising goal and is seeking to provide rescue capital to distressed property owners.

The value-added Waterton fund is seeking to raise $500 million of equity to invest in apartment properties across the United States.

OCERS has a 10 percent target allocation to real estate, which will be fully met with these commitments.

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