Orange County Employees Retirement System (OCERS) plans to increase its infrastructure exposure this year as it earmarks up to $250m (€222m) for real assets in 2022, according to a board meeting document.
Last year, the pension fund made two real assets investments, committing $150m to EQT Infrastructure Fund V and ISQ Global Infrastructure Fund III.
Advised by real assets consultancy Aksia TorreyCove Partners, OCERS expects to make two to four commitments ranging in size from $50m to $100m.
The pension fund is aiming to increase the infrastructure portion of its $910m real assets portfolio and to evaluate new energy investments for the first time in two years
It will also continue to sell down its exposure to agriculture and timber.
OCERS has a 5% target allocation to real assets, with 3% allocated to infrastructure and 2% to energy-related investments.