Ohio P&F to slow private equity pace this year

  • Assets under management: $14.7 bln
  • Private markets allocation: 8 pct
  • Private markets portfolio: $1.22 bln
  • Why its important: OP&F has reached and wants to maintain its allocation goal
  • Contact: Theodore Hall, CIO, +1 614-228-2975

Ohio Police & Fire Pension Fund plans to deploy $120 million to private equity this year, a 25 percent decrease from its pace last year, the pension said at its January meeting.

The commitments would help sustain the pension’s private market program at or near its 8 percent target allocation, which it has reached, according to a person with knowledge of the meeting.

Last year, the fund committed $160 million to private equity on a $180 million target.

OP&F has focused on middle-market PE funds. It re-upped $40 million to Harvest Partners’ eighth fund, targeting $3.25 billion, in December, Buyouts previously reported.

The private-markets portfolio was valued at $1.2 billion, or 8.4 percent of the total portfolio, at the end of the fourth quarter. Managers include TA Associates, Vista Equity Partners and HarbourVest Partners.

OP&F will continue its focus on buyout funds in the U.S. but may consider opportunities abroad, the board said at the meeting.