Sacramento invests $85m between three commitments
The $7.8 billion Sacramento County (Calif.) Employees’ Retirement System has invested $85 million in real estate between three separate commitments, allocating $35 million to Och-Ziff Real Estate Fund III, $25 million to Prologis Targeted U.S. Logistics Fund and another $25 million to Prologis Targeted Europe Logistics Fund.
OZREF III, managed by Och-Ziff Capital Management Group, launched in December 2013 looking to raise between $1 billion and $1.5 billion, and had already raised $1 billion by the end of April. The opportunistic fund is expected to invest solely in the United States and split investments evenly between traditional property types and niche property types including cell towers, senior housing and gaming assets.
“We think very highly of the fund’s portfolio manager