Publications

Investors

To read this full article you need to be subscribed to Newsline.

Start Your Free Trial Now View Purchase Options

San Francisco ERS targets European real estate

by Zoë Wolff

The San Francisco Employees’ Retirement System has committed $162.5 million to two real estate funds, according to a spokesperson for the pension fund.

The pension fund approved commitments of €100 million ($112.5 million) to European Property Investors Special Opportunities IV and $50 million to Westbrook Real Estate Fund X.

EPISO IV is a value-added/opportunistic fund managed by Tristan Capital Partners. The fund is targeting equity commitments of €950 million ($1.1 billion). The fund is expected to use around 60 percent leverage and will target net returns of about 15 percent.

Westbrook Partners’ Real Estate Fund X will invest in Western Europe as well as the United States and Japan. The value-added fund is looking to raise $2.5 billion, with leverage below 50 percent.

These commitments come shortly after the $19.9 billion pension fund made its first investment in a European real estate fund.

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?