LP Tearsheet

SERS Ohio boosts real assets target allocation

The US public pension is increasing its real assets target allocation from 15% to 17%, with the target expected to be reached by June 2022.

By
Jesse Koppi
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Institution: School Employees’ Retirement System of Ohio
Headquarters: Columbus, US
AUM: $16.53 billion
Allocation to real assets: 14.7%

School Employees’ Retirement System of Ohio has approved an increase in its real assets target allocation, according to materials from the pension’s February 2021 board meeting.

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Highlights from SERS Ohio’s February 2021 board meeting

The pension agreed to:

  • Increase target allocation to real assets from 15 percent to 17 percent with a wider permitted range of 14 percent to 20 percent.
  • Increase infrastructure exposure within real assets portfolio.
  • Maintain allocation to transport and energy infrastructure sub-sectors.
  • Evaluate new infrastructure equity and debt managers.
  • Pursue more co-investment opportunities with existing infrastructure managers.

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Previous recent infrastructure commitments by SERS include $75 million to Global Infrastructure Partners Capital Solutions Fund II and $40 million to Harrison Street Real Estate Capital’s open-ended Social Infrastructure Fund.

SERS’ chief investment officer is Farouki Majeed, who has been in the role since July 2012. Previously Majeed worked for California Public Employees’ Retirement System and Abu Dhabi Retirement Pensions and Benefit Fund.

As of January 2021, SERS was recruiting for a senior investment officer for its real assets portfolio.

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