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SFERS commits €100m to Nordic real estate fund

by Zoë Wolff

The San Francisco Employees’ Retirement System has committed €100 million ($113.5 million) to Niam Nordic VI fund. The opportunity fund will focus on commercial and residential real estate properties in the Nordic region. Board meeting documents note the Nordic region has proven to be highly resilient. SFERS also believes Niam has a proven track record in the Nordic region. Niam Nordic VI will invest in Denmark, Finland, Norway and Sweden. The fund is looking to raise €500 million ($567.5 million) in equity commitments. This is the first time SFERS has invested in European real estate. Additionally, the $20 billion pension fund has hired NEPC as its general investment consultant, according to meeting documents. NEPC will replace Angeles Investment Advisors, which had held the contract for the previous 20 years. NEPC is scheduled to start its three-year contract on July 1, pending contract negotiations. Angeles Investm

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