Ventura County Allocates $100M to Sculptor Private Credit RE Fund

The Ventura County Employees’ Retirement Association (VCERA) allocated $100M to Sculptor Real Estate Fund V, an opportunistic private credit strategy, according to materials from its September 30 board meeting. General consultant NEPC assisted with the recommendation.

As reported by Dakota in June, VCERA approved a 10% target allocation to private credit, setting target commitments of $275M in 2024 and $300M in 2025. Including the latest investment, VCERA has committed $175M to private credit so far in 2024, having previously invested $25M in Cross Ocean European Special Situations Fund V and $50M in Arbour Lane Credit Opportunity Fund IV.

Per Dakota data, VCERA oversees $8.3B in assets. As of June 30, the real estate portfolio comprises 5.9% of the total fund against a target allocation of 8%.