SJCERA boosts allocation to private equity by up to two percentage points

The California country retirement system adopted a new target asset allocation following an asset liability study.

Institution: San Joaquin County Employees’ Retirement Association
Headquarters: Stockton, United States
Total AUM: $3.08bn
Allocation to Alternatives: 17.9%
Bitesize: $10-50m

San Joaquin County Employees’ Retirement Association (SJCERA) adopted a new strategic asset allocation policy following an asset liability study by investment consultant Meketa, according to a contact within the organization.

The strategy “Aggressive Growth” will increase by 2 percentage points, from 8 to 10 percent. This increase will be allocated to “a blend of private equity and non-core real estate,” as elaborated in boarding meeting documents.

SJCERA is now developing an implementation plan that will provide further granularity on the pacing and specific asset class of the allocation changes.

The $3.08 billion country retirement system currently allocates 4.6 percent to private equity.

Illustrated in the charts below are SJCERA’s full investment portfolio, new target asset allocation and recent fund commitments.

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