The Santa Barbara County (Calif.) Employees’ Retirement System (SBCERS) has committed $20 million each to two funds: Stonepeak Real Estate Partners, which closed on Aug. 10, and Grandview III, which closed on Oct. 4, according to meeting materials.
Stonepeak Real Estate Partners, a vehicle of Stonepeak, is a value-added and opportunistic closed-end fund focused on opportunities at the intersection of infrastructure and real estate in the United States. It has raised $764 million.
Grandview III, a vehicle of Grandview Partners, is a value-added closed-end fund targeting industrial, hotel, office and residential property sectors in the United States. A fundraising goal has not been disclosed. Grandview II closed at $379 million in 2021.
SBCERS is a public pension fund that provides benefits to County of Santa Barbara employees. As of Oct. 31, it had $4.5 billion in total assets under management, with a 10 percent target allocation to real estate. As of Oct. 31,
