Stanislaus County Employees’ Retirement Association, Modesto, Calif., committed $20 million to Grandview Partners II.
The $2.8 billion pension fund’s board approved the value-added real estate fund managed by Grandview Partners at its meeting Tuesday, said Stan Conwell, investment officer.
StanCERA previously committed $15 million to Grandview Partners I.
As of Aug. 31, the pension fund’s actual allocation to value-add real estate was 4.1%; the target is 6%.
Investment consultant NEPC assisted.