Teachers’ Retirement System of Oklahoma plans to invest up to $600m (€538.4m) in real estate in 2022, according to the pension fund’s meeting document.
Last year the pension fund made $150m worth of real estate commitments as it issued $100m into the FCP Realty IV fund and $50m into the Artemis Value IV fund.
In November last year, the $22bn pension fund increased its real estate allocation target from 9% to 10%, a move that has helped lift its planned real estate investments in 2022.
The Townsend Group, the pension fund’s real estate consultant, said in the meeting document that the investment plan involves making $200m worth of investments into core open-ended funds and putting $400m into non-core. The commitments will be made through manager searches.
The current year’s investment plan also involves reducing allocation to COVID-19 impacted property types such as retail and office and increasing allocation to property types with secular tailwinds such as industrial.
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