Oregon Public Employees Retirement Fund (PERF) is expected to invest between $1.5bn and $2bn (€1.8bn) in real assets in 2023 through funds and co-investment strategies.
The Oregon State Treasury disclosed in a meeting document that the pension fund’s real assets pacing for this year involves making around 5 to 10 commitments worth between $150m to $350m each.
Oregon PERF’s real assets portfolio comprises infrastructure, natural resources, agriculture and timberland assets valued at $7.9bn, representing 8.8% of the pension fund’s total investment portfolio.
Rex Kim, Oregon Investment Council’s CIO disclosed in the meeting document that Oregon PERF has extended a relationship LS Power Equity Advisors by making a $200m commitment to the LS Power V fund.
Capital raising details of LS Power V are currently unknown. The fund’s manager raised $2.25bn in 2018 for a predecessor fund in the series.
The fund series targets infrastructure assets in North America that are focused on the sectors of power generation and transmission.
Oregon PERF already has a $589.8m portfolio held with LS Power Equity Advisors accumulated through three previous commitments.
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