Orange County Employees’ Retirement System (OCERS) plans to invest $425m (€282.2m) in real estate this year.
According to the pension fund’s meeting document, the real estate pacing plan for 2022 is expected to comprise a making two $100m commitments into specialist open-ended core or core-plus funds and placing $75m each into non-core funds.
For the non-core investments, OCERS is expected to target US life science, cold storage, data centres and single-family residential assets. It also plans to target some industrial assets in either Europe or Asia.
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