S
an Mateo County Employees' Retirement Association has invested $30 million in Invesco Real Estate's open-ended core US real estate fund. The investment aims to rebalance the pension fund's real estate portfolio, which currently accounts for 7.1% of its total assets.

    As of year-end 2024, San Mateo County held a $463.9 million real estate portfolio, with a target allocation of 9%. Core real estate investments comprise $219.5 million in the Invesco fund and smaller stakes in other funds.

    The Invesco fund primarily invests in apartments, industrial, retail, and office assets, with some exposure to self-storage and single-family rentals.