Ohio P&F backs Stone Point’s latest flagship

  • AUM: $15.6 bln
  • Private markets allocation: 8 pct
  • Private markets portfolio: $1.26 bln
  • Whom to contact: David Graham, communication director, dgraham@op-f.org

In its effort to slow down private-market commitments this year, Ohio Police & Fire Pension Fund at its May meeting backed only one PE fund.

The board recommended a $20 million commitment to Stone Point Capital’s Trident VIII fund. The pool, hard-capped at $6.5 billion, focuses on financial services in North America and Western Europe.

Ohio P&F previously pledged to Trident VII, which raised $5.5 billion in 2017.

In January, Ohio P&F set the private-markets pacing for its 2019 investment plan at $120 million, a 25 percent decrease from 2018, Buyouts reported. The move enables the system to maintain its 8 percent target.

The investment to Trident VIII is the system’s third commitment to private markets in 2019, bringing its total for the year to $60 million.

The latest pledges enable the plan to make three additional investments of up to $20 million for the rest of the year, according to David Graham, Ohio P&F’s communications director.

The system’s private-markets portfolio is valued at $1.26 billion, according to Graham.