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ontra Costa Employees' Retirement Association has significantly increased its real estate exposure with two new investments totaling $50m. The pension fund has committed $30m to Cloud Capital Fund II, a global opportunity fund that invests in data centers.

    Additionally, Contra Costa County has pledged $20m to Cross Lake Real Estate Fund IV, which is managed by the same firm as the previous $60m commitment made by the pension fund. The final close for Fund IV was achieved in May this year, with total commitments of $237m according to its placement agent Hodes Weill Securities.

    Fund IV focuses on land banking and development opportunities for single-family residential assets in the growing Mountain West and Sunbelt regions of the US. It also has the flexibility to invest in special situations such as rescue capital for select subdivisions.