Indiana Public beefing up on real estate

Indiana Public Employees’ Retirement Fund, Indianapolis, plans to invest $200 million to $250 million in open-end commingled core real estate funds and $100 million in publicly traded real estate securities with properties in North America, Europe and Asia. The $17.14 billion pension fund is trying to hit its $483 million real estate target; it currently has $14 million in the asset class. The fund’s board expects to make selections in November. Mercer, the fund’s consultant, is assisting.