- Assets under management: $14.7 bln
- Private markets allocation: 8 pct
- Private markets portfolio: $1.22 bln
- Whom to contact: Theodore Hall, chief investment officer, +1 614-228-2975
- Why is this important: Ohio P&F maintains focus on middle market
Ohio Police & Fire Pension Fund maintained its focus on the middle market, ending 2018 with a $50 million re-up to Harvest Partners’ eighth fund, targeting $3.25 billion.
The pension system committed more than 60 percent of its $160 million private-markets allocation to middle-market private equity funds.
This included $30 million to Littlejohn & Co’s sixth fund, a new relationship for the system, and a $30 million re-up to Resolute Fund IV managed by Jordan Co.
The pension system in 2018 also re-upped $40 million to Vista Equity Partners’ seventh fund and $30 million to EQT’s eighth fund.
Previously, the pension system committed $40 million to Harvest’s seventh fund, which targeted $2.2 billion in 2015, and $25 million to Harvest’s sixth fund, which raised $1.1 billion in 2012.
Harvest Partners invests in business and consumer services, healthcare services, and industrial, manufacturing and distribution companies with annual revenue between $100 million and $1 billion and Ebitda of $20 million to $100 million.
Harvest’s portfolio companies include Advanced Dermatology and Cosmetic Surgery, Epiq, Dental Care Alliance, Insight Global and Green Bancorp.
Several LPs, including Kentucky Retirement Systems, Texas Municipal Retirement System, California Public Employees’ Retirement System and Los Angeles City Employees Retirement System, invested in previous Harvest Partners funds.
Ohio Police & Fire Pension Fund’s private-markets portfolio returned 21.8 percent over one year, 16 percent over 3 years and 15.55 percent over 5 years as of Dec. 31, 2017.
Action Item: Read more on Harvest Partners here https://bit.ly/2BSxedE