Ohio Public Employees Retirement System (PERS) is shifting its focus to distressed real estate opportunities, as part of the pension fund’s 2024 investment plan.

The pension fund will also seek out investment opportunities led by general partners as older investment funds reach the end of their lifespan, an area it expects to grow in importance in the coming year.

The current year investment plan differs from 2023’s approach, which prioritised opportunistic investments and buying secondary market stakes from limited partners seeking to sell.

Ohio PERS is stepping up real estate investments to reach its 12% target allocation, after raising it from 10% in January last year.

For infrastructure investment in 2024, Ohio PERS expects to target data infrastructure assets like cell towers, fibre and data centres. This marks a departure from 2023’s focus on digital, energy transition, and renewable sectors.

To read the latest IPE Real Assets magazine click here.