The San Diego City Employees’ Retirement System has committed $25 million to Waterton Residential Property Venture Fund XV.
According to meeting materials from the November 3 board meeting, “Waterton is targeting a first close on December 8, 2022 and expects commitments of $1.0 to $1.2 billion at that time” for the value-added real estate fund.
SDCERS’ real estate consultant, Meketa, assisted with the recommendation.
The $25 million commitment will bring SDCERS’ current non-core real estate exposure to approximately 28%. SDCERS’ targets 30% of their real estate exposure to non-core funds.
For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of Dakota Marketplace!
