The Public Employees’ Retirement System (PERS) of Mississippi has made a $200m (€172.4m) commitment to the Invesco US Income Fund.

The investment, which was disclosed in PERS of Mississippi’s meeting document, follows the $28bn pension fund’s search for a core-plus open-ended fund manager.

The search, conducted by investment consultant Callan, originally intended to allocate between $300m to $400m to one or two managers.

Invesco was shortlisted alongside Blackstone Property Partners, Carlyle Property Investors and PGIM Real Estate’s PRISA II.

According to Callan, the Invesco fund had exceeded the NFI-ODCE Net Index in all time periods.

Callan said the fund has a current contribution queue of $152m and no redemption queue.

The Income Fund, formed in November 2013, has a net asset value of $1.6bn and is backed by 23 institutional investors.

Invesco Real Estate declined a request for comment.

To read the digital edition of the latest IPE Real Assets magazine click here.