The $191.4 billion California State Teachers’ Retirement System is considering increasing its allocation to infrastructure in November.

During the pension fund’s Sept. 2 meeting, the investment committee discussed the findings of its 2015 asset allocation study. If approved at the November board meeting, CalSTRS’ target allocation to infrastructure will increase from 1 percent to 2 percent.

According to meeting documents, infrastructure is becoming more attractive to the pension fund as it reaches the maximum allocation constraints on private equity and real estate. The documents also indicate CalSTRS expects infrastructure to produce long-term results with desirable risk levels and attractive diversification benefits, relative to other asset classes.

The pension fund currently has slightly less than $1 billion invested in infrastructure, under its current target allocation. If the increase is approved, CalSTRS would be able to invest more than $3 billion