Stanislaus County Employees’ Retirement Association, Modesto, Calif., committed $25 million to Brookfield Strategic Real Estate Partners V.
The $2.9 billion pension fund disclosed the Dec. 20 commitment to the global opportunistic real estate fund managed by Brookfield Asset Management in materials for its Jan. 28 board meeting.
It is StanCERA’s first commitment to a Brookfield fund.
As of Dec. 31, the pension fund’s actual allocation to noncore real estate was 4.3%; the target is 6%.
