Ohio Police & Fire Pension Fund (OP&F) is planning to invest up to $220m (€181.3m) in US real estate funds this year, according to the pension fund.
OP&F’s 2021 real estate pacing plan exceeds the $160m set for last year.
The pension said the amount set aside will be used to target tactical or non-core industrial assets or multi-family real estate funds but may consider some other properties.
OP&F, which typically makes commitments of around $50m, currently has a $1.64bn real estate portfolio, representing 9.6% of its total portfolio. The targeted allocation for real estate is 12%.
According to OP&F, it has also set a $120m pacing plan for real assets this year, an amount lower than the $160m it set aside in 2020.
The new capital will mostly be invested in infrastructure opportunities and possibly some agriculture opportunities.
The real assets portfolio, which has an 8% target allocation is currently valued at $567m, representing 3.3% of OP&F’s total plan assets.
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