Ohio Police & Fire commits $35m to timber
In an ongoing effort to increase exposure to the timberland sector, the Ohio Police & Fire Pension Fund has committed $35 million to Forest Investments Associates, adding to a past allocation to the firm of $100 million. Dave Graham, communications manager with OP&F, has confirmed the commitment. OP&F’s mandate with FIA is structured as a separate account titled LRT I. Three vehicles have been created to date, LRT I, LRT II and LRT III. LRT I holds two timberland investments, while LRT II and LRT III hold one each. The $14.2 billion pension fund has a separate timber allocation with a long-range target of 5 percent of the total fund. The recent commitment brings OP&F’s total commitment to the sector up to $191 million, or 1.3 percent of the fund.