Ohio BWC commits $50m to real estate fund
The $25.5 billion Ohio Bureau of Workers’ Compensation has committed $50 million to Hammes Partners III, according to spokeswoman Melissa Vince.
Hammes Partners III, which opened in January, is a value-added real estate fund that will invest in the healthcare sector throughout the United States, particularly medical office buildings and ambulatory centers. The fund is seeking to raise $600 million in equity commitments.
The $11.7 billion New Mexico Educational Retirement Board is an initial investor in the fund and is planning to commit as much as $50 million.
Ohio BWC previously committed $50 million to the fund’s predecessor, Hammes Partners II, in 2014. The fund held a final close in 2015, raising $430 million in capital commitments from institutional investors.
Ohio BWC has a target allocation to real estate of 12 percent.