San Francisco City & County Employees' Retirement System committed $70 million to Alterra IOS Venture III.
The $33.5 billion pension fund disclosed the commitment to the real estate fund managed by Alterra Property Group in a report from CEO/CIO Alison Romano included with Nov. 8 board meeting materials.
Alterra's fund invests in industrial outdoor storage properties. SFERS previously committed up to $60 million to Alterra IOS Venture II in 2022.
As of Oct. 31, the pension fund's actual allocation to real assets was 16%; the target is 10%.