Ohio Police & Fire Pension Fund (OP&F) has made its first investment in a dedicated data-centre fund, committing $50m (€42.9m) to a vehicle manager by Cloud Capital.
Cloud Capital held a final close for the closed-ended Cloud Capital Fund II in September – attracting investment from Contra Costa Employees’ Retirement Association – but OP&F said it had invested in open-ended, core-plus vehicle, Cloud Capital Fund I.
OP&F’s investment means the pension fund has committed $195m to new real estate investments this year, including a $85m investment in Blue Owl Real Estate Fund VII. Last year, the pension fund said it planned to invest between $230m and $280m in non-core real estate in 2025.
For 2026, OP&F has set a real estate investment pacing plan of between $200m and $300m. The pension fund has not determined the balance between versus value-add real estate.
The pension fund has also earmarked commitments of between $125m and $175m for real assets, with a focus on infrastructure funds.
* A previous version of this article stated that OP&F had invested in Cloud Capital Fund II.
