The $15.48 billion Ohio Police & Fire Pension Fund has approved its 2018 Real Assets Investment Plan after a recommendation from its real estate consultant, The Townsend Group.
OP&F’s newest asset class is valued at $325 million, or 2.1 percent, of the total portfolio and consists of timberland, infrastructure and agriculture investments. The long-term target allocation for real assets is 8 percent.
The approved plan for 2018 will concentrate on infrastructure opportunities and, to a lesser degree, on agricultural row crop exposure, with no new investments in timber expected.
OP&F has made numerous investments in infrastructure funds through 2017, including $160 million to IFM Global Infrastructure Fund and $80 million to Meridiam Infrastructure North American III Fund.