Ahold Pensioenfonds, the EUR 2.4 billion private sector pension fund, feels that it could return to the private real estate arena in the next 12 months. It will commit to the asset class on the basis of arising opportunities, focusing on European core real estate. The pension fund's primary motivations for investing in private real estate are scalability and diversification. It thinks that as a relatively small investor, private real estate enables it to attain risk-adjusted diversified exposure to an asset class that it will otherwise experience difficulty gaining access to. The pension fund currently has a 10% allocation to the real estate asset class, meeting its target allocation.