The Nebraska Investment Council is planning to invest $120m (€97.6m) in real estate this year and the same again in 2019 on behalf of defined-benefit pension funds.
A board meeting report prepared by Aon Hewitt Investment Consulting shows that all of the capital will be invested in non-core real estate funds.
Nebraska Investment Council is meeting on Thursday to consider two commitments to real estate funds, including a $40m commitment to Almanac Realty Securities VIII.
The fund provides growth capital and resources to private and public real estate operating companies profile.
Nebraska Investment Council will also consider committing $40m to Torchlight Debt Opportunity Fund VI.
The fund focuses on high-yield real estate debt investments.
The Nebraska Investment Council manages $23bn of assets on behalf a number of pools of capital, including $10.6bn held by five defined-benefit pension funds. Real estate accounts for 7.5% of the assets held by the defined-benefit pension funds.