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The San Diego City Employees Retirement System (SDCERS) has committed $130 million total to three funds: PRISA III, Invesco U.S. Income Fund and Berkshire Multifamily Credit Fund IV. These commitments were made in January 2025, according to meeting materials.

PRISA III, a vehicle of PGIM Real Estate, received $50 million. This fund is a value-added, open-end fund that focuses on equity and debt investments in diversified properties in the United States. It has a fundraising goal of $5 billion.

Invesco U.S. Income Fund, a program of Invesco Real Estate, received $50 million. This fund is a core-plus, open-end fund that targets well-leased multifamily, office, retail and industrial assets in the United States.

Berkshire Residential Investments’ vehicle, Berkshire Multifamily Credit Fund IV, received $30 million to invest in debt assets secured by multifamily properties. It is a core-plus, closed-end fund. A fundraising goal has not been determined.