The $2.8 billion Stanislaus County Employees Retirement System (StanCERA) has committed $20 million to Grandview II, a closed-end fund managed by Grandview Partners.
The value-added fund opened to investors on Aug. 5 and will invest in properties in the United States. IREI understands StanCERA previously invested in Grandview Partners I.
The pension fund could not be reached to comment on the investment at the time of publication. As of Aug. 31, StanCERA had a 4.1 percent actual allocation to value-add real estate, against a 6 percent target.
