OP&F to invest up to $50m in industrial fund
The $14.2 billion Ohio Police & Fire Pension Fundapproved a commitment of up to $50 million to Exeter Industrial Fund IV at its November board meeting, according to spokesman David Graham in an email.
The Exeter IV fund, managed by Exeter Property Group, is a closed-end warehouse and light industrial real estate fund that focuses on value-added distribution centers and e-commerce hubs in the United States.
OP&F has previously invested in the fund’s predecessors, with a $50 million commitment to Exeter Industrial Value Fund III in 2013 and a $35 million commitment to Exeter Industrial Value Fund II in 2011.
This will be the pension fund’s final commitment to real estate in 2016, each of which have been up to $50 million. OP&F has a target allocation to real estate of 12 percent and an actual allocation of 10.8 percent.
In other news, the pension fund approved a recommendation to convert its timber allocation to a real a