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SERS of Ohio sets infrastructure portfolio goals 2022

The US public pension looks to expand infrastructure commitments by seeking increased equity and debt managers.

Institution: School Employees’ Retirement System of Ohio
Headquarters: Columbus, US
AUM: $18.71 billion
Allocation to real assets: 16.8%

The School Employees’ Retirement System of Ohio has grown its real assets portfolio from 14.7 percent to 16.8 percent in the past year, after committing to boosting its allocation in March 2021. The wider permitted range of this asset class is set between 14 percent and 20 percent.

The pension has released its infrastructure portfolio goals for 2022:

  • SERS has a 2 percent allocation to renewable assets, which is expected to increase this fiscal year
  • Evaluate new equity and debt managers for additional diversification
  • Allocate additional capital to infrastructure; currently, the pension fund has $255 million of unfunded infrastructure commitment
  • Pursue and grow co-investment programme

Also in the February board meeting, the $18.71 billion pension fund approved $50 million apiece to Brookfield Global Transition Fund and DigitalBridge Partners II. Last month, DigitalBridge had closed its second flagship fund after collecting $8.3 billion in capital commitments against a $6 billion target. The fund had doubled the commitments received from its predecessor fund.

Illustrated below are the retirement system’s full investment portfolio, infrastructure portfolio sector breakdown and recent vehicle commitments.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.