If you live in Fresno County, California, and over the past year you got your first home mortgage, or a small business loan, or a loan to develop some new affordable apartments, there is a chance the local county employee pension fund financed it.
As the economy recovers from the COVID-19 pandemic recession, that chance is even greater, since the county pension fund recently allocated millions more dollars to local investments, in anticipation of greater need for capital locally during the recovery period.
“As we headed into COVID-19 market crisis, we recognized there was a need for more liquidity in the Fresno market,” says Nathan Magsig, a Fresno County Supervisor who is also currently serving as chair of the board of trustees for the county’s public pension fund, the Fresno County Employees’ Retirement Association, or FCERA.
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by OSCAR PERRY ABELLO
JUNE 25, 2020