Fresno City Looking to Explore Non-US Real Estate

The City of Fresno Retirement Systems (CFRS) is looking to explore Non-US Real Estate strategies.

In an effort to rebalance the overweight from core to non-core and reduce overall exposure to the U.S, NEPC recommended terminating the JP Morgan Strategic Property Fund.

Additional proceeds will be used to fund new and / or follow on commitments. According to the materials from the March 13 board meeting, staff and NEPC will explore non-US strategies.

As of January 1, 2024, the City of Fresno Retirement System allocates 10.8% to Core Real Estate and 5.1% to Private Real Estate. The $3.8 billion CFRS targets 9% and 6% to the asset classes respectively.

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