Ohio Police & Fire Pension Fund, Columbus, approved three new commitments totaling up to $175 million.
The $18.2 billion pension fund’s board at its June 19 meeting approved commitments of up to $75 million to Fairfield U.S. Multifamily Value Add Fund IV, a value-added real estate fund managed by Fairfield Residential; and up to $50 million each to Fortress Lending Fund IV, a direct lending fund managed by Fortress Investment Group, and OHA Senior Private Lending Fund, a private credit fund managed by Oak Hill Advisors, spokesman David Graham said.
The pension fund previously committed up to $50 million to Fairfield U.S. Multifamily Core Plus Fund II in 2022 and up to $30 million to Fortress Japan Opportunity Fund II in 2012. Oak Hill Advisors is a new manager for the pension fund.
The pension fund’s current actual allocations to real estate and private credit are 10.1% and 3.2%, respectively; their respective targets are 12% and 5%.
