Investors - FEBRUARY 18, 2016

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SFERS commits $50m to Brazilian real estate

by Zoë Wolff

The $19.9 billion City and County of San Francisco Employees’ Retirement System has committed $50 million to HSI Real Estate V, according to recent meeting documents.

The fund, managed by Hemisferio Sul Investmentos, invests in Brazilian shopping centers, warehouses, office buildings and residential developments. The City of Phoenix Public Employees Retirement System recently committed $25 million to the fund. As of October 2015, the Brazil-focused fund had raised $215 million, according to a filing with the SEC.

The pension fund has an actual allocation to real estate of 10.6 percent, under its 12 percent target allocation.

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