The $11.5 billion
Although the board has not approved any specific commitments or plans, other than the asset allocation shift, the investment staff is likely to suggest placing more capital directly into U.S. buyout funds and cutting back on exposure to domestic funds of funds and Ohio-based general partners. The pension fund’s exposure to secondary funds and international funds of funds would stay the same or perhaps grow.
The pension fund is working with consultant
The plan will outline the expected dollar amount of private market commitments through June 2009. Ohio Police & Fire has already developed a preliminary timeline showing the projected allocation percentages at the end of each calendar year through 2012: 3 percent for 2008; 4 percent for 2009; 4 percent for 2010; 6 percent for 2011; and 7 percent for 2012.
Past commitments include ones to
According to its 2007 annual report, for diversification purposes, Ohio Police & Fire seeks to have 30 percent to 50 percent of its private equity portfolio in venture capital; 45 percent to 70 percent in buyouts; and up to 10 percent in distressed debt/others. It targets 75 percent to 100 percent exposure in the United States, and up to 25 percent overseas.