The Sacramento County (Calif.) Employees Retirement System (SCERS) has put $40 million in Asana Partners Fund III, on behalf of its noncore real estate allocation, a recent investment report shows.
In November, the closed-end fund had secured $750 million against a fundraising target of $1.5 billion, according to a filing with the SEC.
Asana Partners Fund III will follow a value-add strategy focused on unique street-front retail within high-growth walkable neighborhoods in the United States. The fund will target areas containing strong demographics, high educational attainment and above-average household income.
SCERS previously invested $35 million in the fund’s predecessor, As
