Ohio Public Employees Retirement System (PERS) is backing a Carlyle Group managed core-plus US property fund, an investment which gives the pension fund an exposure beyond the traditional property types of office, industrial, retail and apartments.

Ohio PERS said it has approved a $100m (€84m) commitment to Carlyle Property Investors (CPI), a fund which targets life science offices, manufactured housing, student housing assets as well as apartments.

The open-ended fund was launched in September 2015. Manager Carlyle did not respond to a request for comment.

Ohio PERS said it already has a $2.2bn investment held in five core and core-plus open-ended funds which mainly invest in office, industrial, retail and apartments.

The investments include a $708.8m held in the BlackRock US Core Property Fund, $682.1m in the JP Morgan Strategic Property Fund and $262.3m for PRISA. It also has $272.9m invested in the PRISA II fund and $233.8m in the UBS Trumbull Property Fund.

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