Ohio Police & Fire puts $125m in Prologis Targeted U.S. Logistics Fund
The $18.98 billion Ohio Police & Fire Pension Fund (OP&F) has approved a recommendation to commit up to $125 million to Prologis Targeted U.S. Logistics Fund, a spokesperson for the pension fund disclosed in an email.
Prologis is focused on acquiring and operating institutional-quality logistics facilities in select global trade markets in the United States. The core open-end fund will target industrial properties near airports, seaports and highway systems in major U.S. metropolitan areas.
As of Nov. 30, the OP&F real estate portfolio was valued at $1.84 billion, representing 9.6 percent of the total portfolio, against a target of 12 percent.
In other news, Wilshire, OP&F’s general investment consultant, reported that the total fund had a net return of 2.5 percent for the third quarter of 2021, and a 13.6 percent year-to-date return through Sept. 30, outperforming its benchmark in both periods.