Phoenix City Employees’ Retirement System committed $30 million to SC Core Fund, an Asian core-plus real estate fund managed by SC Capital Partners, said Greg Fitchet, investment officer.
The $2.2 billion pension fund previously committed $30 million to SC Capital Partners’ Real Estate Capital Asia Partners IV, an opportunistic non-core real estate fund, in October 2014.
The pension fund’s real estate target is 15%. As of Sept. 30, the actual allocation was 14%.
Real estate consultant RVK assisted.