Ohio Police & Fire commits $50m to Cortland Partners fund

The $15.22 billion Ohio Police & Fire Pension Fund has committed $50 million to Cortland Partners Growth and Income Fund, according to David Graham, communications director for the pension fund.

Cortland Partners Growth and Income Fund is a real estate fund managed by Atlanta-based Cortland Partners.

Cortland focuses on multifamily properties in U.S. growth markets, primarily in the southeast.

OP&F’s real estate portfolio is valued at $1.67 billion, or 10.5 percent of the total portfolio. The target for the real estate portfolio is 12.0 percent.

In addition, The Townsend Group, OP&F’s real estate consultant, reported that the real estate portfolio had a 2.4 percent gross return for the second quarter 2018 (2 percent return, net of fees).