Ohio Bureau of Workers' Compensation, Columbus, committed $50 million to KTR Industrial Fund III for its $22 billion State Insurance Fund, confirmed spokeswoman Melissa Vince.
The value-added real estate fund, managed by KTR Capital Partners, is the first such investment for the bureau, which created a 6% target allocation to real estate in 2011.
The bureau committed a total of $950 million, or 4.5% of the fund, to eight active open-end core commingled real estate funds in September.
The remainder of the real estate allocation, 1.5%, is expected to go into value-added real estate funds.
Investment consultant R.V. Kuhns & Associates assisted.