San Diego City Employees’ Retirement System (SDCERS) has made commitments to two real estate funds for a total of $75 million. These commitments were made on Sept. 13, according to the meeting minutes from the SDCERS Board of Administration meeting.
Sabal Debt Opportunities Fund III, managed by Sabal Investment Holdings, received $25 million for the real estate portfolio.
CBRE U.S. Core Partners fund, managed by CBRE Investment Management, received a follow on commitment of $50 million. This fund is open-end and is focused on buying core assets, such as office, industrial, retail and apartments, in the United States.
San Diego City Employees’ Retirement System is a public pension fund that has $11 billion in total assets. Out of its total assets, 11 percent is allocated to real assets. As of Dec. 31, 2023, the public pension fund had $1.13 billion invested in real assets
