As of August 19, approximately 8.7% of total assets managed by North American public pension funds are allocated towards real estate, per research firm Preqin Ltd. These pension funds have more than $6 trillion in assets under management. Commercial real estate, primarily office spaces, used to dominate a conventional pension fund’s portfolio pre-pandemic, as remote and hybrid working was rare. However, most U.S. and Canadian public pension funds are restructuring their real estate portfolio to invest in residential, infrastructure and industrial holdings. Changing Times The 9-to-5 office operating five days a week is no longer the norm.