Seattle pension fund invests in Sculptor Real Estate Fund IV

The Seattle City Employees’ Retirement System (SCERS) is planning to commit $17.5 million to Sculptor Real Estate Fund IV, an opportunistic fund managed by Sculptor Capital Management.

The recommendation is still awaiting final approval,  a spokesperson for SCERS confirmed in an email.

Sculptor Real Estate invests in both opportunistic real estate private equity and real estate credit in the United States and Europe, according to the firm’s website. The firm has raised $6.3 billion of dedicated real estate capital and has completed more than 144 transactions across 23 diverse real estate asset classes.

Launched in December 2018, Sculptor Real Estate Fund IV is looking to invest $2 billion into opportunistic debt, office, hotel, land, multifamily, retail, senior housing, and distressed properties in Europe and the United States.

This will be SCERS’ first commitment to a Sculptor fund.

As of Dec. 31, 2019, SCERS has a 10.3 percent allocation t