Ventura County (Calif.) Employees' Retirement Association committed $75 million to LaSalle Value Partners US IX.
The $7.2 billion pension fund's board approved the commitment to the value-added real estate fund managed by LaSalle Investment Management at its meeting Monday, said Dan Gallagher, chief investment officer, in an email.
VCERA previously committed $100 million to LaSalle Income & Growth Fund VIII in 2019.
As of Feb. 28, the pension fund's actual allocation to real estate was 7.5%; the target is 8%.
Investment consultant NEPC assisted.