Santa Barbara County allocates $30m to three real estate funds

The $4.1 billion Santa Barbara County (Calif.) Employees’ Retirement System (SBCERS) is committing $10 million each to US Industrial Club VI, HIG Europe Realty Partners III and High Street Value Fund I.

Managed by Hillwood Investment Properties, US Industrial Club VI has a fundraising goal of $1.2 billion. Focusing on industrial investments in North America, the fund seeks to add value to its acquisitions through capital improvement, leasing and efficient asset and property management.

HIG Europe Realty Partners III, managed by HIG Europe, is a value-add real estate fund focused on European markets, primarily those in Western and Northern Europe. Investing in diversified sectors, including healthcare and life sciences, hospitality, mixed-use, industrial, office, and residential, the fund looks for well-located, undermanaged, capital-constrained real estate and credit opportunities. The firm then seeks to acquire full ownership, adding value through active management