Iowa Public Employees Retirement System (PERS) has set a $1bn (€951.9m) real assets pacing plan for 2025, according to the pension fund’s board meeting document.
The planned investment for 2025 is twice the $500m set aside for real assets in 2024. By early November 2024, Iowa PERS said it had invested $138m in real assets. The total is expected to rise, as the pension fund is in late-stage due diligence on three potential infrastructure fund investments.
The plan for 2025 involves making a $400m allocation to recycle distribution proceeds, invest in triple-net and value-add mandates and potentially add a new core real estate manager; making a $500m allocation to on-board infrastructure mandates; and making a $100m allocation for five co-investment opportunities, each valued at $20m.
Iowa PERS also plans to allocate capital to the real estate credit sub-portfolio within its broader private credit assets. It has set aside $150m for a re-up commitment to an existing real estate debt strategy in 2025.
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