San Joaquin County Employees' Retirement Association, Stockton, Calif., committed $45 million to Stockbridge Value Fund III, a diversified U.S. real estate fund managed by Stockbridge Capital Group, according to recently released board meeting minutes.
The board authorized the commitment Feb. 9.
As of March 31, the $2.85 billion pension fund had a target asset allocation of 30% global equities, 20% credit risk offset, 14% credit, 14% risk parity, 12% private equity and 10% stable fixed income.
Spokesman Greg Frank could not be immediately reached for further comment.
