San Mateo County Employees' Retirement Association, Redwood City, Calif., committed $30 million to Cerberus Institutional Real Estate Partners VI, as part of SamCERA's private real assets portfolio within its inflation hedge category asset class.
The commitment was approved at the board meeting Sept. 26, according to a notice on SamCERA's website.
Cerberus Institutional Real Estate Partners VI is a real estate distressed debt fund managed by Cerberus Capital Management.
SamCERA had $6.1 billion in assets as of June 30. Private real assets accounted for about 5.4% of the portfolio.
SamCERA could not be immediately reached for further details.