Alameda County Employees' Retirement Association, Oakland, Calif., committed $50 million to Starwood Distressed Opportunity Fund XII.
The $10.1 billion pension fund's board approved the commitment to the opportunistic real estate fund managed by Starwood Capital Group at its June 17 meeting, ACERA spokesman Michael Fara confirmed.
As of March 31, the pension fund's actual allocation to real estate was 6.2%; the target is 8%.
