Sacramento County (Calif.) Employees' Retirement System committed $65 million total to two real estate funds, confirmed Scott Chan, chief investment officer.
The $7.4 billion pension fund committed $35 million to MetLife Core Property Fund, an open-end fund managed by MetLife Real Estate Investors. It also committed $30 million to KKR Real Estate Partners Americas, a real estate fund managed by KKR & Co. that focuses on acquisitions in Europe and the U.S.
It is the pension fund's first commitments with both managers. Real estate consultant Townsend Group assisted.