Ohio Police & Fire Pension Fund, Columbus, committed up to $40 million to Tenex Capital Partners II, a private equity fund, said David Graham, spokesman, in an e-mail.
It is the $13.9 billion pension fund’s first commitment to a fund managed by Tenex Capital Management, and brings the pension fund’s total private equity commitments for 2015 to $313 million. The pension fund’s private equity target is 8% and actual allocation is 5.7%.
Private equity consultant TorreyCove Capital Partners assisted.
Separately, the pension fund’s board approved a 2016 real estate investment plan, recommended by real estate consultant The Townsend Group. The plan has the pension fund conducting invitation-only searches to make commitments to three tactical, non-core real estate funds, each in the range of $40 million to $70 million.
The pension fund made commitments totaling $171 million to the tactical, non-core portfolio in 2015. The total real estate allocation is $1.5 billion, or 11% of the pension fund. The target is 12%.