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San Diego City plans $100m in commitments to debt funds

by Jody Barhanovich

The $6.7 billion San Diego City Employees’ Retirement System is planning on committing $50 million each to MetLife Commercial Mortgage Income Fund and the Mesa West Core Lending Fund, according to a board meeting document.

The pension fund’s investment consultant, Aon Hewitt, recommended the commitments and introduced debt exposure to the pension fund’s real estate portfolio.

The final approval will be made at the pension fund’s investment board meeting on July 13.

MetLife Commercial Mortgage Income Fund is an open-end, diversified core real estate debt fund that focuses on originating and actively managing debt investments secured by institutional-quality real estate located predominantly in primary markets throughout the United States. The fund’s strategy is to primarily originate commercial mortgage loans and investing up to 30 percent in subordinate debt with the goal of providing consistent current income and preserving capital. The fund invests i

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