OCERS earmarks $250m for noncore real estate strategies

The $16.3 billion Orange County (Calif.) Employees Retirement System (OCERS) has earmarked $250 million to commit to noncore real estate strategies for the 2020 fiscal year.

The pension system will look to commit $75 to $122 million per fund, OCERS communications manager Robert Kinsler confirmed in an email.

He noted that no fund managers selections have been made.

OCERS previously said it intended to invest in one to two noncore funds targeting industrial and apartment markets in the United States, with a particular focus on increasing exposure to the West Coast.

In 2018, the pension plan committed $150 million to two new core funds: one niche sector specialist fund investing in medical office, senior housing, student housing and self-storage, and one pure-play industrial fund. It had invested 13 percent of its real estate portfolio in industrial assets and 26 percent in