Alameda County Employees' Retirement Association, Oakland, Calif., plans to make a total of $125 million in core real estate commitments in 2021 and 2022.
The $8.7 billion pension fund's board approved the 2021-'22 Real Estate Investment Plan at its Feb. 18 meeting, spokesman Michael Fara said in an email.
The total number of commitments should bring the pension fund's real estate allocation to its target of 8%, board meeting materials show. As of Sept. 30, the pension fund's actual allocation to real estate was 7%.
The pension fund does not issue RFPs for real estate commitments. Real estate consultant Callan makes individual recommendations to ACERA's investment committee, with final approval taken by the pension fund's board.