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Private equity real estate investor San Francisco City & County Employees' Retirement System makes plans to allocate further capital to global REITs

by Stuart Taylor

  • 29 Jul 2009
  • RE

Private equity real estate investor San Francisco City & County Employees' Retirement System makes plans to allocate further capital to global REITs.

San Francisco City & County Employees' Retirement System, the USD 11 billion public pension fund, is planning to increase its exposure to global REITs. Its real estate advisor, Townsend Group, recommended allocating further capital to REITs earlier in the year and the pension fund is now planning to commit USD 50 million to these vehicles by 2010. San Francisco City & County Employees' Retirement System has a 12% target allocation to real estate, with a target range of 9-15%. In addition to REITs, it allocates to private equity real estate and has a preference for value added and opportunistic strategies. Its private equity real estate portfolio gives it exposure to markets across the globe, including emerging markets.

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