Ohio Bureau of Workers Compensation (OhioBWC) Board is planning to invest up to $440m (€368m) in core-plus and value-add real estate funds this year.
In March, IPE Real Assets reported that OhioBWC was planning to increase its core-plus real estate allocation.
In a board meeting document, the investor said it will allocate $125m to existing core-plus fund investments in the second half of the year. It also plans to put $165m into two core-plus funds between the second half of 2018 and the first half of 2019.
In addition, the $26.8bn investor said that, from 2018 to 2022, it will put $150m each year in value-add real estate assets.
OhioBWC’s decision will be based on recommendations made by investment consultant RVK.
The core-plus portfolio was valued at $523m at the end of September 2017, and is managed by companies including Clarion Partners, Jamestown, PGIM, Prologis, JP Morgan and USAA. Its value-add portfolio was $215m.