San Francisco Employees’ Retirement System (SFERS) is considering an allocation of up to $600m (€554.3m) for real asset investments in fiscal 2025, with 80% potentially directed towards existing partner managers.
The pension fund disclosed in a board meeting document that the capital it intends to invest in the year that started 1 July will be used to target real estate and infrastructure opportunities.
In the just-ended fiscal 2024, SFERS issued $295m worth of real assets commitments.
The plan for the current fiscal year involves considering investment opportunities in industrial, residential, and special situations with alternative real estate assets.
For infrastructure, SFERS said it will be considering digital and decarbonsation assets.
SFERS intends to invest all the real assets portfolio’s capital in funds or co-investments, targetting mainly US assets with a limited global component.
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