The Stanislaus County (Calif.) Employees Retirement System has committed $25 million to Brookfield Strategic Real Estate Partners (BSREP) V, on Dec. 20, according to meeting materials.
BSREP is an opportunistic, closed-end fund, that will invest in a range of properties and real estate operating companies in North America, Brazil, Europe and Australia. It has a fundraising goal of $15 billion. Brookfield Strategic Real Estate Partners IV, its predecessor, closed in 2021 at $17 billion, meeting its goal exactly.
Stanislaus County Employees Retirement System is a public pension fund with $2.9 billion in total assets under management, as of Dec. 31. As of April 30, 2024, it had a 12.5 percent real estate allocation target with $324.8 million in total real estate assets.