Ohio Police & Fire Pension Fund, Columbus, plans to commit a total of between $505 million and $685 million in 2025 to real estate, private markets and real assets funds.
The $19 billion pension fund’s board approved pacing plans for all three asset classes at its Dec. 4 meeting, spokesman David Graham said.
First, the board approved the 2025 real estate investment plan, which calls for commitments totaling between $230 million and $280 million to noncore funds, with a focus on sectors with “attractive long-term fundamentals, while conscious of price, or distressed pricing opportunities while conscious of quality,” Graham said.
The pension fund committed a total of $300 million to real estate in 2024.
As of Oct. 31, the actual allocation to real estate was 9.7%; the target is 12%.
Also, the board approved the 2025 private markets plans, which calls for commitments totaling between $195 million and $225 million. The pension fund made $145 million in commitments in 2024.
As of Oct. 31, the actual allocation to private markets was 7.7%; the target is 10%.
Finally, the board also approved the 2025 real assets investment plan, which calls for commitments totaling between $80 million and $180 million, with a focus on infrastructure, although staff and real assets consultant Townsend Group will consider tactical opportunities in agriculture and timberland.
The pension fund made total commitments of $205 million to real assets in 2024.
As of Oct. 31, the actual allocation to real assets was 6.2%; the target is 8%.
The pension fund does not issue RFPs.
