South Carolina Retirement System (SCRS) plans to allocate an additional $320m (€259m) to both real estate and infrastructure this year.
The pension fund, which had $31.8bn assets at the end of 2017, said in a board meeting report that it will lift its real estate allocation from 8% to 9% and its infrastructure quota from 2% to 3%.
A final decision would be based on recommendations by Meketa Investment Group, the pension fund’s investment consultant.
SCRS said the plan is to invest in core and core-plus real estate. This would be a change from recent years, during which it focused mostly on value-add and opportunistic strategies.
SCRS said the build-out of its private infrastructure portfolio was a key initiative for 2018.
The pension fund wants the infrastructure portfolio to include a mixture of public, private core and non-core strategies.