Ohio Police & Fire Pension Fund, Columbus, hired Wellington Management to run about $160 million in active international small-cap equities and committed up to $80 million to iCON Infrastructure Partners VII, a diversified infrastructure fund.
The $19.3 billion pension fund’s board approved the actions at its March 26 meeting, spokesman David Graham said.
Funding for the Wellington portfolio comes from the September termination of Barings from a similar portfolio for performance reasons. A Barings spokesperson declined to comment at the time.
Assets have been temporarily allocated to a different portfolio since then.
As of Feb. 28, the actual allocation to international equities was 13%; the long-term target is 12.4%.
For the iCON Infrastructure commitment, it is at least the pension fund’s third commitment to the manager. OP&F previously committed up $80 million to iCON Infrastructure Partners VI in 2022 and up to $75 million to iCON Infrastructure Partners V in 2020.
As of Feb. 28, the actual allocation to real assets was 6.3%; the long-term target is 8%.
