The GBP 820 million public pension fund will commit to one or two fund of funds vehicles in the next 12 months. The pension fund currently has a 4.5% allocation to real estate, which has decreased from its 7% mark of Q2 2009. This is invested in two PUTs. London Borough of Camden Pension Fund is looking to diversify its property portfolio in 2010 through the private fund of funds structure. These new commitments will increase its allocation to the asset class to approximately 10%. The selected funds will be predominantly focused on private equity real estate funds, but may include core funds as well. The public pension fund is currently in the process of considering which fund managers’ offerings will be most suitable.