Ohio Police & Fire sets pacing for real asset, real estate commitments

Ohio Police & Fire Pension Fund, Columbus, will make up to $580 million in new real asset and real estate commitments in 2021.

The $17.2 billion pension fund’s board Wednesday approved the 2021 real assets investment plan, which will include up to $250 million in open-end funds and up to $110 million in closed-end funds, primarily in infrastructure, spokesman David Graham said.

No new commitments to timberland are expected in the foreseeable future, while the pension fund plans to make a gradual increase in commitments to agriculture funds over the next several years, Mr. Graham said.

As of Dec. 31, the actual allocation to real assets was 3.3%; the target is 8%.

The board approved the 2021 real estate investment plan, which calls for commitments totaling between $160 million and $220 million during the calendar year, with a continuing focus on industrial and multifamily funds, Mr. Graham said.

As of Dec. 31, the actual allocation to real estate was 9.6%; the target is 12%.

The pension fund does not issue RFPs.