San Bernardino County Employees Retirement Association is a public pension fund with a portfolio valued at $15.65 billion as of July 31, 2024. It holds equities, infrastructure, fixed income, real estate, private equity, hedge funds, real assets, natural resources, and cash. The private equity portfolio was valued at over $2.77 billion as of September 30, 2023, or 19.4% of the total portfolio, up from $2.68 billion on June 30, 2023. It is currently underweight relative to the 18% target allocation, which has an acceptable range of 6 to 23%. Private equity exposure spans buyouts, mezzanines, distressed debt, co-investments, funds of funds, private equity growth expansion, venture capital, and secondary fund strategies, across geographies worldwide except Africa. The plan accepts first-time fund investments and prefers partnership investments of $10 million to $40 million. The board of retirement governs the Pension Fund's investments. Mr. Marc Bracco is Chairman of the Board, Safety Member Trustee, and a Member of the Executive, Audit, and Investment Committee. Chantico Global, Kreischer Miller and NEPC serve as the LP Consultants.
| Investor | Type | Based in | Focus | AUM | Contacts |
|---|---|---|---|---|---|
| Morgan Stanley Investment Management | Fund of Funds | New York | Debt & credit · Core · Co-investment | $1.6T | 1 |
| Blackstone Group - Fund of Funds and Secondary | Fund of Funds | New York | Multifamily · Industrial · Core | $1.1T | 16 |
| New York Life Investment Management | Asset Manager | New York | Multifamily · Industrial · Co-investment | $740B | 5 |
| Brookfield Asset Management | Asset Manager | Toronto, Canada | Multifamily · Industrial · Opportunistic · Joint venture | $690B | 12 |
| KKR | Asset Manager | New York | Multifamily · Industrial · Core · Co-investment | $553B | 11 |
| Ares Management | Asset Manager | Los Angeles | Multifamily · Industrial · Core | $546B | 16 |
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