Ohio Police & Fire Pension Fund, Columbus, made five new commitments totaling up to $210 million, spokesman David Graham said in an email.
The $15.1 billion pension fund committed up to $100 million to IFM Global Infrastructure Fund, an open-end infrastructure fund managed by IFM Investors, and up to $50 million to ACM Fund II, a closed-end agriculture fund managed by ACM Management Co.
They are the first infrastructure and agriculture fund commitments for the pension fund since the creation of a new 5% real assets target, which includes timber, infrastructure and agriculture. Previously, the 5% target was solely for timber, and the pension fund expanded the allocation because the pension fund has had difficulty finding “acceptable timber opportunities that would allow OP&F to reach the 5% target,” Mr. Graham had said following the Nov. 16 board meeting at which the new target was created. The actual allocation is currently 2%.
Separately, the pension fund committed up to $30 million to Glendon Opportunities Fund II, a distressed debt fund managed by Glendon Capital Management; and up to $24 million and $6 million to Altaris Health Partners IV and Altaris Constellation Partners IV, respectively, both middle-market private equity funds managed by Altaris Capital Partners.
Private markets consultant TorreyCove Capital Partners assisted.