Ohio Police & Fire Pension Fund, Columbus, approved two new commitments of up to $85 million.
The $17.8 billion pension fund’s board approved commitments of up to $50 million to Crescent European Specialty Lending Fund III, a European-focused private credit fund managed by Crescent Capital Group, and up to $35 million to Tenex Capital Partners IV, a middle-market buyout fund managed by Tenex Capital Management, at its April 24 meeting, spokesman David Graham said.
Crescent Capital is a new manager for the pension fund. The pension fund previously committed up to $40 million to Tenex Capital Partners II in 2016.
As of March 31, the pension fund’s actual allocations to private markets and private credit were 7.8% and 3%, respectively; their respective long-term targets are 10% and 5%.
