OP&F commits up to $50m to agriculture fund
The $15.1 billion Ohio Police & Fire Pension Fund has committed up to $50 million to ACM Fund II.
ACM Fund II, sponsored by Agriculture Capital, is a closed-end commingled agriculture fund that focuses on permanent crop investments in the western United States and synergistic midstream assets in order to create vertically integrated, sustainable farming enterprises.
This commitment will be a part of OP&F’s new real assets portfolio after it recently adopted a new real assets allocation, the 2017 Real Assets Investment Plan. The new allocation is designed to guide the near-term implementation of the pension fund’s new real assets allocation, which includes infrastructure, agriculture and existing timber investments. A target range of $200 million to $280 million in new commitments was suggested for 2017, with a long-term target of 5 percent of the total OP&F portfolio.