San Diego City Employees’ Commits $25M to Real Estate Fund

November 22, 2022

Written By:
Koncheng Moua, Research Data Analyst

The San Diego City Employees’ Retirement System has committed $25 million to Waterton Residential Property Venture Fund XV.

According to meeting materials from the November 3 board meeting, “Waterton is targeting a first close on December 8, 2022 and expects commitments of $1.0 to $1.2 billion at that time” for the value-added real estate fund.

SDCERS’ real estate consultant, Meketa, assisted with the recommendation.

The $25 million commitment will bring SDCERS’ current non-core real estate exposure to approximately 28%. SDCERS’ targets 30% of their real estate exposure to non-core funds.

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Tags: Pension Funds, Alternatives, Real Estate

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