Canada’s Manulife Asset Management has launched a US real estate fund, attracting capital from Ohio Police & Fire Pension Fund.

The open-ended, core-plus fund will be managed by Manulife Real Estate, a subsidiary that operates under the name of John Hancock Real Estate in the US.

Ohio Police & Fire confirmed to IPE Real Estate that it is committing $50m (€46.6m) to the fund, which has yet to make any acquisitions.

Manulife, which declined to comment, launched its first real estate funds platform in 2011, enabling third-party investors to invest in a Canadian real estate fund.

In 2015, the company hired former American Realty Advisors director Jennifer Lundmark for the newly created role of head of real estate fundraising.

According to Ohio Police & Fire, the new fund will focus on apartment, office and industrial assets in major east and west-coast markets.

The Townsend Group advised the pension fund on its commitment to the fund.

It represents the pension fund’s first real estate investment of the year. Ohio Police & Fire plans to make up to $170m of real estate investments in 2017.