FUNDRAISING NEWS | December 16, 2024
The San Bernardino County Employee Retirement Association (SBCERA) is deciding on a potential $650M target allocation to private equity and up to $145M to real estate for 2025.
Consultant NEPC recommended the target sizes in separate presentations at the pension’s December 12 meeting, with the proposed private equity allocation recommended as a benchmark for the next two to three years. NEPC further added that the private equity portfolio should continue leaning toward early-return strategies.
The California-based pension currently has a total exposure of $4.4B to private equity across 16 sub-asset classes and $919M in real estate split between core and non-core investments. The pension’s private equity and real estate policies hold long-term targets of 18% and 5%, respectively. As of September 30, SBCERA had approximately $15.9B in total plan assets.
Written By: Dakota
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