Ohio Public Employees Retirement System (PERS) has allocated $2.6bn (€2.2bn) for potential real estate investments in 2018.

In a board meeting document, the pension fund said $2bn will be earmarked for separate accounts and the remaining will be set aside for closed-ended funds.

IPE Real Assets has previously reported that Ohio PERS only managed to invest close to a quarter of the $500m it planned to put into closed-end real estate funds last year. It also allocated $1.28bn for separate accounts in 2017 but only $566m was called.

Ohio PERS has so far invested in Landmark Partners’ latest real estate secondaries strategy, committing $200m to Landmark Real Estate Fund VIII and a further $200m to a parallel co-investment vehicle.

The $2bn allocated to separate accounts will be shared among 13 investment managers, including UBS, Vanbarton, FCA, Washington Capital Management, Heitman, Lowe Enterprises and Rockbridge Hospitality.