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Ore. pension fund to invest $300M in 2 core open-ended funds

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Ore. pension fund to invest $300M in 2 core open-ended funds

Oregon Public Employees Retirement Fund is investing $150 million each in ASB Allegiance Real Estate Fund and Heitman America Real Estate Trust, IPE Real Assets reported, citing the pension fund's board meeting report.

The commitments further the fund's plan to invest between $800 million and $900 million in core open-ended property funds. Other core investments made by the pension fund include a $300 million commitment to the JP Morgan Strategic Property Fund in 2016 and a $250 million infusion into the Morgan Stanley Prime Property Fund earlier this year.

IPE noted that the latest commitments will give the pension fund exposure to seniors housing, student accommodation, self-storage, data centers and other alternative sectors.

The pension fund, which is now preparing to invest in core-plus funds in 2018, has yet to achieve its 12.5% target allocation for real estate. It had invested $7.5 billion, or 10% of total assets, in real estate at the end of October, according to the report.