Marin County Employees' Retirement Association, San Rafael, Calif., committed $30 million to ING Clarion's Lion Property Fund, a core real estate portfolio, said Michael Smith, county treasurer and a fund trustee. The $1.1 billion pension fund also committed $15 million to RREEF America III and $5 million to AEW Partners V, both value-added real estate funds. The commitments, subject to contract approval, will be funded from cash and rebalancing, Mr. Smith said. The additional allocations will bring the fund up to its 12% real estate target, he explained.
Callan Associates assisted.