Ohio State Highway Patrol Retirement System, Columbus, committed $30 million to a private equity fund of funds managed by Pantheon Ventures, said Dennis Smith, chief investment officer.
The $849 million pension fund conducted a search in 2014. Other finalists were Commonfund Capital and RCP Advisors.
Separately, the pension fund’s board voted Thursday to redeem hedge fund-of-fund investments in Feingold O’Keeffe Distressed Loan Fund, managed by FOC Partners, and Seix Credit Opportunities Fund, managed by Seix Investment Advisors, in which the pension fund had invested $11 million and $7.4 million, respectively, as of Dec. 31.
Mr. Smith said the redemptions are due to the funds being credit-related or fixed-income related, resulting in some duplications of investments the pension fund has made since originally investing in these funds in 2007.
Investment consultant Hartland & Co. assisted staff on the commitment and redemptions.