Ohio commits $350m to real estate, makes new hire
The $12.7 billion School Employees Retirement System of Ohio has committed $350 million to real estate, divided between three managers, and hired BlackRock to run a $100 million domestic passive REIT portfolio, confirms Tim Barbour, senior communications coordinator with OHSERS. The retirement system is currently in the process of bringing its actual allocation to real assets from 10.8 percent to its target allocation of 15 percent by the end of fiscal year 2015.
The largest commitment was a $200 million nod to CBRE U.S. Core Partners, an open-end fund that launched in 2012 and targets core assets across property types and markets in the United States.
OHSERS committed $75 million to another open-end core fund as well, the Mesa West Core Lending Fund, as the retirement system