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Investors - DECEMBER 5, 2022

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Iowa Public Employees’ Retirement System eyes $400m of private real asset investments in 2023

by Kali Persall

The Iowa Public Employees’ Retirement System (IPERS) has unveiled plans to make $400 million in private real asset investments in 2023.

Real estate investments will constitute at least 50 percent of the private real asset investment value, according to an IPERS board meeting document. Such investments shall be diversified with core real estate constituting at least 80 percent of the real estate portfolio, and noncore and market-driven opportunity investments comprising up to 20 percent of portfolio.

According to IPERS, core real estate investments are commercial properties located in the United States that derive their value primarily from current income production, and therefore represent lower-risk profiles than noncore properties. It is anticipated that core investments will generate at least 70 percent of their total returns from income.

Core investments are stabilized, substantially leased properties in the four major property types: office (CBDs or subur

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