SBCERA allocates $120m to real estate
The $8.1 billion San Bernardino County Employees’ Retirement Association has allocated $120 million for real estate commitments in 2016, according to recent meeting documents.
The pension fund’s real estate portfolio currently makes up 6.5 percent of its total assets, below its 9 percent target allocation to the asset class. The retirement board hopes this new allocation plan will allow the pension fund to reach the 9 percent target allocation.
The investments will be divided $70 million to core real estate and $40 million to noncore real estate. The pension fund will invest in both open- and closed-end funds.