The $20.2 billion Orange County (Calif.) Employees Retirement System (OCERS) is planning to amp up investments in its noncore portfolio in Fiscal Year 2022, according to a May meeting document.
The pension fund said it plans to make two-to-three new investments at $75 million per fund, for a total of $150 million – $225 million in new commitments. At the same time, OCERS will make zero new commitments in its core portfolio.
As of March 31, OCERS had a 9.49 percent allocation to real assets — which includes real estate, energy and infrastructure — against a 12 percent target. The real assets portfolio was valued at $1.9 billion.
An investment policy on the pension fund’s website notes that 58 percent of the real assets portfolio is targeted to real estate.
