Ohio Police & Fire Pension Fund has approved a $60m (€49.1m) commitment to a US life science and healthcare-related real estate fund managed by Ventas.

The pension fund said it has for the first time invested with Vestas by backing the manager’s Ventas Life Science & Healthcare Real Estate Fund.

The fund, created last year, is a perpetual-life vehicle focused on investments in core and core-plus life science, medical office and senior housing real estate in North America.

Ventas, which hold a 21.1% stake in the fund, said in its first-quarter earnings that the fund had a gross book value of $2.1bn. The fund’s current assets comprise 10 life science assets and a medical office building.

Ventas declined a request for comment.

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