IREI has learned that the San Mateo County Employees Retirement Association (SamCERA) has invested $50 million in Invesco Real Estate U.S. Fund VI, a private real estate fund managed by Invesco Real Estate.
Invesco Real Estate U.S. Fund VI opened to investors in November 2020 with a $1.5 billion fundraising target. The closed-end, value-add fund will invest in diversified properties in the United States.
As of March 31, SamCERA had a 7.7 percent allocation to real estate. The pension fund could not be reached to comment on its recent investment activity.
