Ohio School Employees Retirement System, Columbus, disclosed $400 million in manager hires and commitments, confirmed spokesman Tim Barbour.
The $14.6 billion fund hired State Street Global Advisors to run $200 million in passive domestic large-cap equities. This is a new allocation within domestic equities and was funded with cash, Mr. Barbour said.
As of June 30, the actual allocation to domestic equities was 24.5%; the target is 22.5%.
The pension fund also committed $100 million to J.P. Morgan Global Transport Income Fund, an infrastructure fund managed by J.P. Morgan Asset Management. SERS hired J.P. Morgan in 2017 to implement a $300 million overlay program for the system's international equity portfolio.
As of June 30, the actual allocation to global real assets was 14.8%; the target is 15%.
Finally, SERS committed $50 million each to Atlas Partners Holdings II, a North American buyout fund, and Oaktree Special Situations Fund II, a distressed debt fund managed by Oaktree Capital Management. Atlas Partners is a new manager for the pension fund; SERS committed $40 million to Oaktree Principal Fund V in 2009.
As of June 30, the actual allocation to global private equity was 9.8%; the target is 10%.
