Ohio Police & Fire Pension Fund is planning to invest up to $320m (€290m) in infrastructure and non-core property funds, and will review its core open-ended real estate portfolio.
The investments in infrastructure will form part of the pension fund’s $482m real assets portfolio, which also includes agriculture and timber.
The $16.4bn pension fund said it intends to review and make some adjustments to the seven core open-ended real estate funds it is exposed to within its $1.77bn real estate portfolio.
Last year, IPE Real Assets reported that Ohio Police & Fire was planning to redeem $100m from open-ended real estate funds to help reduce its exposure to the retail and redevelopment property sectors.
At the time, the pension fund said it will redeem $40m for the JP Morgan Strategic Property Fund, $25m from the Heitman America Real Estate Trust and $35m from the USAA Eagle Real Estate Fund.