The Sacramento County Employees’ Retirement System (SCERS) has made three new alternative investment commitments totalling $120m, further diversifying its portfolio across real estate and private equity, according to a report by Pension & Investments Online.
The report cites the $13.9bn pension fund’s latest monthly report, as revealing allocations of $50m to the FPA Core Plus Fund VI, a core-plus real estate fund, and $30m to the FPA Apartment Opportunity Fund IX, a value-added real estate fund. Both funds are managed by FPA Multifamily, a new manager for SCERS. Additionally, SCERS committed $40m to Strategic Value Special Situations Fund VI, a distressed debt fund managed by Strategic Value Partners.
These commitments were made in February 2025 and mark a continued effort to enhance the pension fund’s exposure to real estate and private equity. SCERS had previously committed $30m to Strategic Value Special Situations Fund V in 2021.
As of December 31, SCERS’ allocations to private equity and real estate stood at 11.4% and 9.1%, respectively, slightly above their target allocations of 11% and 9%.
