Oregon Public Employees Retirement Fund (PERF) has disclosed its investment pacing plans for 2025, targeting commitments of $400m to $750m (鈧�352m to 鈧�660m) for its real estate portfolio and up to $1bn for its real assets portfolio.
The Oregon State Treasury disclosed in a board meeting document that the pension fund plans to make three to six real estate commitments in 2025, each ranging from $100m to $150m.
The real estate investments are expected to be made through either separate accounts or funds, both of which Oregon PERF has prior experience with.
The long-term strategy for the real estate portfolio is to maintain an overweight position in industrial and multifamily properties while modestly increasing exposure to grocery-anchored and necessity-based retail assets.
Oregon PERF鈥檚 real asset plan for 2025 involves committing to three to five transactions of between $150m and $350m each via open or closed-end funds and co-investments. Most of the capital is expected to be placed in infrastructure investments during the period.
In 2024, all $775m of real asset commitments were invested in infrastructure, according to the meeting document.
Oregon PERF鈥檚 infrastructure exposure comprises a 21% exposure to renewable energy, 17% to digital infrastructure, 14% in upstream energy and 10% in transportation. Geographically, the portfolio is concentrated in North America, followed by Europe, Asia-Pacific and Latin America.
Oregon PERF said it intends to issue a request for proposals in May to select a new investment consultant for its real assets portfolio, as its current contract with Aksia is set to expire at the end of this year.
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