Ohio Police & Fire to target infrastructure and non-core real estate

Ohio Police & Fire Pension Fund will favour infrastructure and non-core US real estate as it looks to invest close to $300m (€264m) in real assets this year.

According to the pension fund’s pacing plan, it will invest as much $170m in real estate in 2019, focusing on tactical and non-core strategies.

A spokesperson told IPE Real Assets that the pension fund is satisfied with its current exposure to core real estate.

Ohio Police & Fire is likely to make three commitments, each between $50m and $75m, to real estate funds this year.

The pension fund is close to its 12% target allocation to real estate, with the $1.72bn invested in the asset class representing 11.28% of its total assets.

By contrast, it is significantly below its 8% target allocation to real assets, which excludes real estate but includes infrastructure, timber and agriculture, at 2.5%.

Ohio Police & Fire plans to invest $120m in closed-ended funds in 2019 to increase its $379m real assets portfolio.

But it will focus predominantly on infrastructure, while also considering agriculture but avoiding timber investments altogether.

It has also allocataed $175m to be invested in open-ended funds over the coming years.

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  • QN-2519

    Asset class: Fund wrapper.
    Asset region: Global.
    Size: EUR 80m.
    Closing date: 2019-03-29.

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