LACERS invests up to $ 295 million in real estate fund | news

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The Los Angeles Employee Retirement System (LACERS) intends to invest up to $ 295 million (€ 242.2 million) in fixed and non-core real estate funds in fiscal 2022.

According to the document on the meeting of the $ 17.7 billion pension fund, in the 2022 fiscal year starting in July, it is expected that up to $ 130 million will be invested in fixed assets and up to $ 165 million in the non-core sector.

Pension fund real estate consultant The Townsend Group said in the document that some of the main types of property considered during this period are industrial, multi-family and office medical assets.

The strategy also includes identifying opportunities to rebalance the core portfolio to increase returns.

For non-core businesses, LACERS is looking at a specialized real estate fund such as cold stores, life sciences, data centers and single-family homes. Part of the strategy also includes possible investments in distressed fund strategies.

Another plan for non-core investments is to support industrial and multi-family real estate fund managers who add new regions or strategies.

To read the digital edition of the latest IPE Real Assets magazine, click here

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