Investors - OCTOBER 13, 2014

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SFERS commits to Asian real estate

by Reg Clodfelter

The San Francisco Employees’ Retirement System has committed $50 million to Asian real estate, investing in ARCH Capital – TRG Asian Partners III, an opportunistic fund headed by ARCH Capital Management. This is the $20.3 billion retirement system’s first commitment with ARCH Capital.

The fund, which is looking to raise $500 million (with a hard cap of $650 million), had an initial closing in May 2014 with more than $230 million in committed capital from investors in the Middle East, Southeast Asia, Europe and Australia. The fund has had a more challenging time raising capital from U.S. pension schemes, according to SFERS board documents.

The fund will invest in residential, retail and lifestyle mixed-use development projects as well asvalue-add opportunities in markets experiencing the emergence of a middle class and an overall rise in affluence. The majority of the fund’s investments will be in development projects.


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