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.
The funds include the Heitman Core Property Fund, the Jamestown Premier Property Fund, JP Morgan Strategic Property Fund and the LaSalle Property Fund.
The rest are the Morgan Stanley Prime Property Fund, the UBS Trumbull Property Fund and PGIM Real Estate’s PRISA fund.
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.
