FUNDRAISING NEWS | July 19, 2023
The San Diego City Employees’ Retirement System is targeting $100 million in new non-core real estate commitments across three to four commitments during the 2023 fiscal year.
The $10.4 billion Retirement System reviewed the FY 2023 Real Estate Plan at the July investment meeting. According to meeting materials, $50-75 million will be targeted to sector specific strategies such as residential, logistics, healthcare, self-storage, data center, hospitality, and neighborhood/community retail. $25-50 million will be targeted to structured real estate debt.
The real estate plan also calls for the reallocation of $100 million in core debt to core plus. The Board anticipates $25 million in new core plus commitments per year over the next four years and will make $33 million in core debt redemptions per year for three years.
Also at the meeting, it was disclosed that the Stone Harbor Emerging Market Debt account was terminated as part of the restructuring of the Return-Seeking Fixed Income portfolio out of Emerging Market debt into Multi-Asset Credit.
For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of Dakota Marketplace!
Written By: Koncheng Moua, Director of Data Management and Strategy
Koncheng Moua is the Director of Data Management and Strategy at Dakota.
March 16, 2023
November 04, 2022
925 West Lancaster Ave
Suite 220
Bryn Mawr, PA 19010
Tel: (610) 642-1481
© Dakota 2024 | Terms of Use | Privacy Policy | California Privacy Policy