Ohio School Employees Retirement System, Columbus, hired Connor, Clark & Lunn Investment Management to run $500 million in active global equities and approved two new commitments totaling up to $150 million.
The $19.8 billion pension fund’s staff investment committee approved the actions at its April 17 meeting, according to meeting highlights emailed by spokesman Tim Barbour.
Funding for the global equity hire comes from cash, according to the highlights. SERS previously hired CC&L Investment Management to manage $100 million in active emerging markets equities in 2023.
As of Feb. 28, the actual allocation to global equities was 43%; the target is 40%.
Also at its April 17 meeting, the committee approved commitments of up to $75 million each to Brookfield Global Transition Fund II, an infrastructure fund managed by Brookfield Asset Management, and Strategic Value Special Situations Fund VI, a distressed debt fund managed by Strategic Value Partners.
Both are existing managers for the pension fund. SERS previously committed $50 million to Brookfield Global Transition Fund in 2022 and $50 million to Strategic Value Capital Solutions Fund II in 2023.
As of Feb. 28, the actual allocations to global infrastructure, and opportunistic and tactical investments were 6.8% and 3.1%, respectively; their respective targets are 7% and zero.
