Ohio Police & Fire Pension Fund, Columbus, committed €43 million ($48.9 million) to Rhone Partners V, a private equity fund, spokesman David Graham said in an e-mail.
It is the $14.3 billion pension fund's first commitment to a fund managed by Rhone Capital. The fund primarily targets the acquisition of European and North American middle-market businesses.
Separately, the pension fund's board of trustees approved the 2015 private markets investment plan, which targets aggregate capital commitments of $325 million through January 2016. The Rhone Capital commitment, considered a 2014 commitment, does not count toward that total.
The pension fund's long-term private markets target allocation is 8%. As of Nov. 30, the actual private markets allocation was 4.9%.
