Teachers’ Retirement System of Oklahoma has established a real assets pacing plan of $700m (€603.6m) for 2026, according to a board meeting document written by AON for the pension fund.

The investment strategy calls for real estate to make up $500m of the plan.

This will be split up with $200m for core and up to $300m for non-core. Should all of this capital be deployed, it would represent a major increase over the capital invested in real estate this year.

The pension fund only approved one new real estate commitment in 2025, for $100m into the Ares Industrial Real Estate Fund.

The investor was very cautious about placing capital into real estate last year due to the state of the property and capital markets, according to the document.

Oklahoma Teachers has set $200m for infrastructure commitments for the new year. The pension fund will use the capital to target opportunities in mid-market power infrastructure that is positioned for long-term growth, driven by electrification, surging data centre and AI demand, and the onshoring of US manufacturing.

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