Ohio School Employees Retirement System, Columbus, rehired Aksia as hedge fund consultant and committed $125 million to alternatives, said board meeting highlights posted on the $14 billion pension fund's website.
The pension fund issued an RFP in June because of a pension fund policy requiring services be put up for bid every five years. The other finalist was Albourne Partners.
Separately, the pension fund committed $50 million to Francisco Partners V, a technology-focused buyout fund. The pension fund's previous commitment to a Francisco Partners fund was $25 million to Agility Fund in 2016, preceded by $50 million to Francisco Partners IV in 2014.
The pension fund also committed $50 million to NGP Natural Resources XII, a private equity fund that focuses on North American businesses involved in oil and natural gas production, midstream energy and oilfield services, managed by NGP Energy Capital Management. The pension fund previously committed $50 million to NGP Natural Resources XI in 2014.
Also, the pension fund committed $25 million to Primus Capital Fund VIII, a middle-market growth equity fund. The pension fund's previous commitment to a Primus Capital fund was up to $25 million to Primus Capital Fund VII in 2011.
Separately, the pension fund's staff also presented a portfolio review of multiasset strategies. The pension fund plans to "reduce allocations to equity (long)/short and event-driven managers, and increase exposure to relative value, tactical trading, and multistrategy managers" over fiscal year 2018 in an effort to reduce volatility, the staff review said. The staff plans to add two or three new managers during the fiscal year to diversify the types of strategies in the portfolio. The pension fund does not issue RFPs for alternatives. The multiasset strategies target is 10%; as of Sept. 30, the actual allocation was 8.9%.
Tim Barbour, pension fund spokesman, could not be immediately reached to provide further information.
