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Sign in Sign up for a FREE subscriptionOP&F commits $50m to Asia Pacific real estate fund
The $15 billion Ohio Police & Fire Pension Fund has committed up to $50 million to Heitman Asia-Pacific Property Investors, according to spokesman David Graham.
The value-added fund will focus on core and developed markets in Australia, Japan, Hong Kong and Singapore, but will consider deals in China, South Korea and New Zealand as well. The fund mostly will pursue acquisitions of residential, retail and industrial properties, while also deploying capital in niche asset classes. The positions would include joint ventures with local firms.
Heitman Asia-Pacific Property Investors hopes to raise $350 million in total equity commitments, with a maximum fundraising target of $500 million.
This is the second real estate commitment for OP&F in 2017. The first was a commitment of up to $50 million to John Hancock U.S. Real Estate Fund, a core-plus open-end fund.
OP&F’s target total investment plan for 2017 is $120 million to $170 million. As
