Ohio Police & Fire Pension Fund, Columbus, committed up to $30 million to GTCR XIII.
The $15.5 billion pension fund's board approved the commitment to the latest buyout fund managed by GTCR at its meeting Wednesday, said David Graham, pension fund spokesman, in an email.
It is the pension fund's fourth private markets commitment of 2020, bringing the total committed to $90 million, Mr. Graham said.
Separately, the board approved changes in the pension fund's target allocation, increasing the target to domestic equities to 21% from 16% and reducing international equities to 14% from 16% and master limited partnerships to 5% from 8%.
Mr. Graham said no changes in managers as a result of the target changes were discussed.
The board made no changes to the fund' other targets, which are: 23% fixed income; 17% U.S. inflation-protected securities; 12% real estate; 8% each, private markets and real assets; 7% high-yield bonds; and 5% private credit.
As of July 31, the actual allocation was: 18.7% domestic equities; 17.6% international equities; 12.9% fixed income; 10.6% real estate; 9.4% high-yield bonds; 9.3% U.S. inflation-protected securities; 8.6% private markets; 5.4% MLPs; 3.5% real assets; 2.8% private credit; and 1.2% cash.