Ohio Police & Fire commits $50m to European real estate
The $13.97 Ohio Police & Fire Pension Fund has committed $50 million to PW Real Estate Fund III, according to the pension fund’s October investment notes.
The fund, managed by PW Real Assets, formerly Perella Weinberg, targets properties in France, Germany, Ireland, Portugal, Spain and the United Kingdom. The opportunistic fund is seeking to raise €1.5 billion ($1.7 billion) in equity. The New Jersey Division of Investment recently committed €90 million ($101.6 million) to the fund.
OP&F has a target allocation to real estate of 12 percent and an actual allocation to the asset class of 10.6 percent.