Alameda County Employees’ Retirement Association, Oakland, Calif., committed up to $50 million to Starwood Distressed Opportunity Fund XIII.
The $11.6 billion pension fund’s board approved the commitment to the opportunistic real estate fund managed by Starwood Capital Group at its Sept. 19 meeting, a webcast of the meeting showed.
ACERA previously committed $50 million to Starwood Distressed Opportunity Fund XII in 2021.
As of March 31, the pension fund’s actual allocation to real estate was 6.8%; the target is 9%.
