The San Diego City Employees Retirement System (SDCERS) has committed $40 million to KKR’s Real Estate Partners Americas IV fund.
The opportunistic closed-end fund aims to raise $4 billion to invest in diversified real estate assets in the United States. Its predecessor, KKR Real Estate Partners Americas III, raised $4.3 billion in 2020.
SDCERS, a public pension fund, had $13 billion in total assets under management, as of Dec. 31, 2025. As of then, it had a 10 percent real estate allocation target and $1.3 billion in total real estate assets.
