CCCERA commits to secondaries value-add

The US pension fund confirmed a commitment of $80m.

Institution: Contra Costa County Employees’ Retirement Association
Headquarters: Concord, US
AUM: $10.09 billion
Allocation to alternatives: 26.1%

Contra Costa County Employees’ Retirement Association has revealed a $80 million commitment to Blackstone Strategic Partners Real Estate Fund VIII in its latest meeting materials.

The fund was launched in April 2022 and is targeting an IRR in the mid to high teens.

Founded in 2000, Blackstone Strategic Partners (formerly Credit Suisse Strategic Partners) is a global investor in the secondary private equity market and provides liquidity to investors globally. Blackstone Strategic Partners acquired Credit Suisse Strategic Partners in August 2013.

As shown below, CCCERA’s real estate allocation is 5.86 percent.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.