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SDCERA to commit up to $500m to real estate, $400m to real assets

by Reg Clodfelter

The $10.5 billion San Diego County Employees Retirement Association is looking to invest $500 million into real estate by 2017, as well as potentially invest $275 million to $400 million into real assets in 2015, according to recently released board documents.

The $500 million into real estate will be necessary for the retirement association to raise its real estate allocation from its current level of 9.3 percent to its 10 percent target allocation to the asset class by 2017. SDCERA is also looking to adjust its real estate portfolio from its current 50-50 split between core and noncore investments to a 70-30 split, and will expect to achieve returns of approximately 7.5 percent with the new allocation. As of Sept. 30, 2014, SDCERA’s real estate portfolio achieved a 10.4 percent one-year return.

The capital will primar

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