Ohio Police & Fire Pension Fund, Columbus, approved two new commitments totaling up to $125 million.
The $17.2 billion pension fund's board at its meeting Wednesday approved commitments of up to $75 million to Alterra IOS Venture III, a real estate fund managed by Alterra Property Group that invests in industrial outdoor storage properties, and up to $50 million to direct lending fund Barings North American Private Loan Fund III, spokesman David Graham said in an email.
The pension fund hired Barings in 2021 to manage $180 million in an active international small-cap equity portfolio, and Alterra is a new manager for the pension fund.
As of July 31, the actual allocations to real estate and private credit were 11% and 3%, respectively; their respective long-term targets are 12% and 5%.
