San Mateo County pension fund approves $30m commitment to Harrison Street fund

Multi-billion dollar San Mateo County Employees Retirement Association (SamCERA) has approved a $30 million commitment to the Harrison Street Core Property Fund, an open-end real estate fund managed by Harrison Street.

It is the first fund dedicated to exclusively investing in stabilized, income-producing properties in the student housing, senior housing, medical office and self-storage segments, according to the firm.

Launched in 2011, the limited partnership fund requires a minimum investment of $10 million.

As of June 30, 2018, SamCERA had invested $53.3 million in real estate. The pension fund is in the process of building out its private equity, private real asset and real estate portfolios, and intends to make additional capital commitments over the next three to five years.