San Diego City Employees Retirement System's board committed $15 million to Pacific Coast Capital Partners' California Smart Growth Fund IV, said Doug McCalla, CIO of the $4.1 billion pension system. Funding will come from cash.
Separately, the board is expected to consider at its June 16 meeting how to implement a strategic plan for its real estate portfolio that will be 30% core and 70% enhanced and high return. The 10% long-term allocation to real estate now is entirely core or lower risk. Board members will consider how much discretion to give its real estate managers, and searches for new managers are expected.