Sacramento County (Calif.) Employees’ Retirement System disclosed three new commitments totaling $120 million.
The $13.9 billion pension fund committed $50 million and $30 million to core-plus real estate fund FPA Core Plus Fund VI and value-added real estate fund FPA Apartment Opportunity Fund IX, respectively, both managed by FPA Multifamily, and $40 million to Strategic Value Special Situations Fund VI, a distressed debt fund managed by Strategic Value Partners, all in February, according to a monthly report of investment activity on its website.
FPA Multifamily is a new manager for the pension fund. SCERS previously committed $30 million to Strategic Value Special Situations Fund V in 2021.
As of Dec. 31, the pension fund’s actual allocations to private equity and real estate were 11.4% and 9.1%, respectively; their respective targets are 11% and 9%.
