State Universities Retirement System (SURS) of Illinois is planning to invest up to $475m (€426m) in real assets in 2020.
In a board meeting document, the $19.4bn pension fund said it intends to put up to $250m in core strategies, which could be made through open-ended infrastructure and a real estate debt funds.
Half of the allocation to core assets will be placed into new investments and the remaining capital will be redeployed from a full $125m redemption from the UBS Trumbull Property Fund.
The move will enable Illinois SURS to reach its 6% allocation target for core assets.
For the non-core real assets pacing plan, Illinois SURS is considering committing up to $225m to international real estate, infrastructure and agriculture strategies, with individual commitments ranging between $50m and $100m.
The pension fund will also consider funds sponsored by companies that are owned by minorities, women or persons with disabilities.
