Alaska Retirement Management Board is to take a cautious approach to investing in real estate over the next 12 months by avoiding riskier strategies and focusing on quality assets.
In a board meeting document, the pension fund said it would continue to invest through its existing core separate account mandates with a focus on assets located in markets with high barriers to entry.
Alaska Retirement has $163m (€138m) of capital left to invest through its separate account managers, which include Sentinel Real Estate and LaSalle Investment Managament.
However, the pension fund said it will continue to explore new value-added and opportunistic real estate strategies, but this would not be a focus. It recently approved a $25m commitment to the KKR Real Estate Partners America II fund.
Last year, the pension fund closed on two sales of real estate assets and expects to sell more in the coming months.