Ohio Bureau of Workers' Compensation, Columbus, committed $75 million to PGIM Senior Housing Partnership Fund VI a value-added real estate fund managed by PGIM Real Estate, spokeswoman Melissa Vince said in an email.
The board of the bureau, which oversees $26.4 billion in insurance funds, approved the commitment for the $24.2 billion State Insurance Fund, which has a 15% target to real estate. As of March 31, the actual allocation to real estate was 14.1%.
It is the bureau's first commitment to a PGIM Real Estate fund.
Investment consultant RVK assisted.