N
orth Carolina Retirement Systems is set to invest $800m in three real estate deals. The pension fund, with assets of over $130bn, is conducting due diligence on the commitments, which include a $300m private core investment and a $200m value-add investment.

    As of February 2025, North Carolina Retirement's non-core real estate portfolio was valued at $2.1bn, representing 1.59% of its total assets. The target allocation for this type of investment is 3%. For core real estate, the target is 5%, with a current portfolio value of $6.3bn or 4.84% of total plan assets.