School Employees Retirement System (SERS) of Ohio has approved $100m (€85.6m) commitments into its opportunistic and real assets investment portfolios.
The pension fund said in a meeting document that it will put $50m each into Barings Asset-Based Income Fund and the $1.5bn Almanac Realty Securities VIII fund.
The Barings fund specialises in cash flow producing assets on a global basis. Some of the assets that it will be investing in include infrastructure and natural resources like agriculture and timberland.
Ohio SERS said it has placed this investment into its opportunistic asset class.
The pension fund’s opportunistic portfolio was valued at $325m with 13 investments at the end of the fiscal 2018 year which ended 30 June. This portfolio makes up 2.4% of total plan assets for the pension fund.
The opportunistic portfolio currently holds an additional $332m of unfunded commitments that have not been called by the managers at this time.
Almanac makes entity level investments in mostly private and some public real estate operating companies. Most of its investments are in companies that own real estate in the US.
Earlier this month, IPE Real Assets reported that Almanac’s ARS VIII fund has so far attracted over two-thirds of target capital.
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