The $15.1 billion Ohio Police & Fire Pension Fund has approved a recommendation by its consultant, The Townsend Group, to increase its commitment to IFM Global Infrastructure Fund to $160 million, according to David Graham, communications manager at the pension fund.
The original commitment to the fund was $100 million. At the time of the original commitment in May, OP&F agreed to scale the commitment size to reflect changes based on the results of OP&F’s ongoing asset allocation study.
OP&F’s recently adopted asset allocation plan subsequently set the real assets portfolio allocation to 8 percent. An increase in the IFM commitment was recommended to following the increased allocation to real assets.
OP&F’s second allocation to infrastructure in 2017 was an $80 million commitment to Meridiam Infrastructure North America Fund III. The fund is a global infrastructure fund managed by Meridiam Infrastructure Managers. The fund’s primary strategy is to focus on new greenfield public-private partnership opportunities, predominantly in the United States and Canada. The fund primarily will target projects in the transportation, social and environmental sectors.