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SCERS plans additional commitments to real estate

by Sara Kassabian

The $6.9 billion Sacramento County (Calif.) Employees’ Retirement System (SCERS) has approved a 12-month real estate investment plan that recommends committing an additional $225 million for real estate investment.

Scott Chan, chief investment officer at SCERS, says the pension fund plans to invest $175 million in core real estate, which is housed in the fund’s real assets portfolio, and $50 million in noncore real estate through value-add and opportunistic commingled funds. He notes that commercial real estate will be competing with other asset classes in the pension fund’s real assets and opportunistic portfolios, and that the commitment is not definitive and may change as the marketplace evolves during the next year.

Currently, core real estate comprises 7.5 percent of the retirement system’s total investment portfolio and is invested in separate accounts managed by BlackRock Realty

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