Ohio Police & Fire Pension Fund, Columbus, committed $40 million to Montauk Tri-Guard Fund V, confirmed spokesman David Graham.
The $12.3 billion fund previously committed $10 million to Montauk III in 2005 and $20 million to Montauk IV in 2008. Montauk focuses on private market investments in secondary market transactions.
The fund also committed $35 million to Exeter Industrial Value Fund II, a real estate fund focusing on major and secondary markets.
Separately, the board approved two new interim target weights for high-yield and long-duration fixed income as the fund works its way toward new asset allocations established in February 2010. The new allocation increases the fund’s overall fixed-income allocation to 51.6% from 20% and reduces equity to 43.4% from 58%.
The interim target weight of high yield is 11.3% of total assets by June 30 with an eventual goal of 15%. There is a search for a high-yield manager currently under way.
The interim target weight for long duration is 13.1% by June 30, 2012. The fund currently has no exposure to the asset class and a search is expected sometime before the interim target weight deadline.