Ohio Police & Fire makes AEW IX its second real estate investment of 2020

The $14.7 billion Ohio Police & Fire Pension Fund (OP&F) has made its second real estate investment of the year.

The pension fund has approved a $60 million follow-on commitment to the AEW Partners Fund IX, according to notes from OP&F’s May 19 investment meeting.

AEW Capital Management’s AEW IX is a closed-end opportunity fund focused on multifamily projects in North America. The fund completed a first close in early May, just three months after hitting the market. At the time of the filing, the fund had raised $302 million against a target of $750 million.

The pension fund said its commitment target for the year is between $110 million and $160 million. The investment in AEW IX brings OP&F to $120 million committed so far this year.

OP&F previously invested in AEW Partners II, IV and VII.

OP&F’s real estate portfolio is valued