Ohio School Employees Retirement System, Columbus, hired Western Asset Management Co. to run $50 million in a high-yield credit energy strategy, said recently released board meeting highlights.
The $12.5 billion pension fund’s board approved the hire, which falls within its opportunistic investments allocation, at its board meeting May 21. Funding comes from cash.
The pension fund’s target range for opportunistic investments is zero to 5%. As of March 31, the allocation was 1%.
Tim Barbour, pension fund spokesman, did not return a phone call seeking further information by press time.