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Ventura County Pension Commits $60M to Real Estate, Private Credit

Ventura County Pension Commits $60M to Real Estate, Private Credit

Ventura County Employees’ Retirement Association (VCERA) added $60 million to its portfolio with a new real estate and private credit fund.

The allocations from the $7.1 billion pension fund were recommended by staff and investment consultant firm NEPC. The moves come as the pension system ended with a -11.72% return in 2022.

VCERA committed $35 million to Alterra IOS Venture III, which is part of Alterra’s ‘Industrial Outside Storage’ investment strategy. The Alterra fund focuses on low density, supply chain and infrastructure real estate in core infill locations. The fund is managed as a joint venture between Alterra Property Group and Park Madison Partners.

Monroe Capital was the recipient of $25 million to its Monroe Opportunistic Private Credit Fund II. The fund invests in opportunistic and special situation private credit transactions across multiple industries, with a focus on asset rich directly originated and secondary credit opportunities.

The areas of focus for Monroe include specialty finance, asset heavy corporate credit, highly structured real estate lending, litigation finance, fund finance, NAV lending and secondary investments in loans.

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Ventura County Employees’ Retirement Association

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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