Ohio Police & Fire Pension Fund, Columbus, committed up to $20 million to MBK Partners Fund V, a buyout fund that focuses on stable defensive businesses in northern Asia.
The $16.4 billion pension fund's board approved the commitment Wednesday following its approval earlier that day of the pension fund's 2020 private markets investment plan, spokesman David Graham said.
The target for 2020 was set for a total of $92 million to $142 million in new commitments for the year into about five different opportunities, Mr. Graham said.
The actual allocation to private markets is 8.3%; the target is 8%.
At the same meeting, the board approved investment plans for its real assets and real estate asset classes.
The pension fund will target a total of $110 million and $160 million in new commitments to real estate funds, and a total of $70 million to $160 million in commitments to closed-end real assets funds, including a gradual increase in agriculture investments over the long term.
The actual allocations to real estate and real assets are 10.8% and 3%, respectively; their respective targets are 12% and 5.2%.
