Ohio School Employees Retirement System, Columbus, hired Connor, Clark & Lunn to manage $100 million in active emerging markets core equities and approved two new alternative fund commitments totaling $150 million.
The $17.6 billion pension fund's board approved the hiring and commitments at its March 16 meeting, according to board meeting highlights emailed by spokesman Tim Barbour.
The emerging markets equities hiring was funded from cash, according to the highlights.
As of Jan. 31, the actual allocation to global equities was 41.4%; the target is 45%.
The board at the March 16 meeting also approved commitments of $100 million to Carlyle Credit Opportunities Fund III, an opportunistic credit fund managed by Carlyle Group; and $50 million to Strategic Value Capital Solutions Fund II, an event driven and special situations private and public credit fund managed by Strategic Value Partners. The latter commitment falls within the pension fund's opportunistic and tactical strategies asset class.
The pension fund previously committed $100 million to Carlyle Credit Opportunities Fund II and $75 million to Strategic Value Special Situations Fund V, both in 2021.
As of Jan. 31, the actual allocation to global private credit was 5.7%; the target is 5%. As of that same date, the actual allocation to opportunistic and tactical strategies was 3.5%. There is no target.
