Orange County gears up for real estate fund search
The $12.7 billion Orange County Employees Retirement System is preparing to launch a search for a global value-added real estate fund, according to recent meeting documents.
The investment committee, with the assistance of OCERS’ real estate consultant, RVK, has approved a candidate profile for the search. The pension fund is looking only for global funds focusing on value-added property development in the United States and overseas.
RVK also noted that OCERS will need two to three additional noncore real estate commitments in the future to maintain the pension fund’s 10 percent allocation to real estate.