Sacramento County commits $65m to real estate
The $7.5 billion Sacramento County (Calif.) Employees’ Retirement System has committed $35 million to the MetLife Core Property Fund and $30 million to KKR Real Estate Partners America. Scott Chan, CIO at SCERS, has confirmed the commitments. The Townsend Group, the retirement system’s real estate consultant since 2012, assisted with the commitments.
KKR Real Estate Partners America, managed by Kohlberg Kravis Roberts & Co., is a closed-end opportunistic fund that opened in July 2013. It closed in December of 2013 after raising $1.5 billion dollars. The opportunistic fund will aim to buy properties in the United States and Europe, including retail assets in the United Kingdom.
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