News & Analysis

SCERA hikes target allocation to farmland

The US public pension plans to increase its exposure to the asset class.

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Institution: Sonoma County Employees’ Retirement Association
Headquarters: Santa Rosa, US
AUM: $3.1 billion
Allocation to alternatives: 17.9%

Sonoma County Employees’ Retirement Association approved an increase to its farmland target allocation from 5 percent to 8 percent at its May 2021 investment committee meeting.

According to the meeting minutes, the additional funding will be allocated to new managers and will be sourced from its equity and core fixed income portfolio.

As illustrated below, SCERA currently allocates 4.4 percent of its investment portfolio to farmland. The pension’s chief investment officer is James Failor.

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