Ohio Police & Fire Pension Fund, Columbus, committed up to $40 million to Harvest Partners VIII, a private equity fund that will invest in North American middle-market management buyouts and recapitalizations, spokesman David Graham in an email.
The $14.7 billion pension fund previously committed up to $40 million to Harvest Partners VII in 2015 and $25 million to Harvest Partners VI in 2012.
As of Oct. 31, the actual allocation to private markets was 8%; the target is also 8%.
Separately, the pension fund's board on Wednesday approved 2019 investment plans for real assets and real estate. In real assets, the pension fund will target $120 million in commitments to closed-end funds in 2019, primarily in infrastructure. No new investments are expected in timber, while in agriculture the pension fund "will pause investing in permanent crops and gradually add row-crop exposure over the longer term," Mr. Graham said. In real estate, the pension fund will target $120 million to $170 million in new real estate commitments, with a focus on U.S. investments.
As of Oct. 31, the actual allocations to real assets and real estate were 2.4% and 11.1%, respectively; their respective targets are 8% and 12%.