AP2 has invested more than $1bn (€760m) in real assets, according to its half-yearly report.
The second Swedish National Pension Fund revealed commitments of $750m and $265m, respectively, to global agriculture and US real estate.
The commitments follow AP2’s decision in 2013 to increase its investment in unlisted real estate from 10% to 15%.
The larger of the two commitments were made to US investor TIAA-CREF, which will manage agriculture investments in Australia, Brazil and the US.
In 2011, AP2 invested $250m with TIAA-CREF in a purpose-built venture, buying and managing agricultural assets and focusing primarily on grain production.
At the time, AP2 said it made the decision to invest in agricultural real estate to provide stable returns with low correlation to its existing investments.
The following year, AP2 and TIAA-CREF increased their commitments to the venture to $2bn, with Canadian investors also joining the Global Agriculture company.
AP2’s second, smaller investment, meanwhile, is part of a joint venture with South Korea’s National Pension Service (NPS) and Tishman Speyer.
The trio have worked together before. In late 2012, AP2 bought a 41% stake in property company US Office Holdings, jointly owned by NPS and Tishman Speyer.
