Ohio School Employees Retirement System, Columbus, hired Industry Funds Management to run a $200 million infrastructure portfolio, spokesman Tim Barbour wrote in an e-mail.
It is the $12.3 billion pension fund's first investment in infrastructure following the creation of a new 15% target allocation to global real assets in June 2013. The pension fund previously had a 10% target to real estate, and the new allocation name reflected the potential of investing in real asset strategies such as infrastructure.
As of Dec. 31, the actual allocation to real assets was 10.4%.
Separately, the pension fund made a follow-on commitment of $50 million to Lion Industrial Trust, an open-end real estate fund managed by Clarion Partners that invests in industrial assets. As of June 30, the pension fund had $56.7 million invested in the fund.
Investment consultant Summit Strategies Group assisted on both the hire and the commitment.