Ohio Police & Fire sets private markets target, backs MBK Partners

Private markets make up $1.36 billion of the system's portfolio.

Ohio Police & Fire Pension Fund has $92 million to $142 million to spend on private equity this year, according to the system’s communication director, David Graham.

The system’s board, with the help of investment consultant Wilshire Associates, approved the pacing plan at the system’s January investment committee meeting.

Ohio P&F also committed up to $20 million to MBK Partners’ fifth fund, targeting $6 billion on a $6.5 billion hard cap, Buyouts reported. The PE firm focuses on the telecommunications/media, consumer retail and financial services sectors in Japan, Korea and China.

The system has an existing relationship with the firm, having committed to MBK Partners IV in 2016, Graham said in an email.

Founded in 2005 by Michael ByungJu Kim, the private equity firm has $20.6 billion in capital under management and has 40 companies in its portfolio, according to its website.

In 2019, Los Angeles County Employees Retirement Association committed $150 million to MBK Partners V, Buyouts reported.

The $16.42 billion system’s private market portfolio makes up 8.3 percent of the fund, or $1.36 billion, according to Graham, which exceeds its 8 percent target.