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SFERS approves $25 million follow-on investment
The San Francisco Employees’ Retirement System (SFERS) has confirmed its approval of a $25 million follow-on investment in Pyramis Global Advisors’ Fidelity Real Estate Opportunistic Income fund. SFERS made an investment of the same size into the open-end opportunistic fund in 2008.
The $15.6 billion pension fund has made a number of real estate investments within the past year, including a $52 million commitment to Gateway Real Estate Fund IV, managed by Gaw Capital, as well as a $50 million commitment to Harrison Street Real Estate Partners IV, managed by Harrison Street Real Estate Capital,