Sacramento County (Calif.) Employees' Retirement System agreed to commit a total of $252 million to two open-end real estate funds, documents from the $9.6 billion pension fund show.
At its Wednesday meeting, the board committed $152 million to Clarion Lion Properties Fund, managed by Clarion Partners; and $100 million to Brookfield Premier Real Estate Partners, managed by Brookfield Asset Management.
SCERS' total real estate exposure was 9.5% as of June 30.
Steve Davis, chief investment officer for the system, could not be reached immediately for additional comment.
