SDCERS approves $50m commitment to DWS core-plus industrial fund

The $8.3 billion San Diego City Employees’ Retirement System (SDCERS) has approved a $50 million commitment to London-based RREEF Core Plus Industrial Fund, managed by DWS (Europe), recently released documents from its July 11 board meeting show.

Launched in June 2017, the open-end commingled fund invests in industrial real estate assets around the world. It currently has 20 assets under management valued at $1.1 billion.

The fund aims to build a diversified portfolio of highly competitive, strategic warehouse investments in top-performing high-barrier metros, according to DWS documents.

SDCERS has a long-standing relationship history with DWS that dates back 22 years.

In 2017, the pension fund committed $47 million to DWS’s RREEF America REIT II fund.