OP&F commits $75m to real estate vehicle

The US public pension has backed a value-add vehicle.

Name: Ohio Police & Fire Pension Fund
Headquarters: Columbus, US
AUM: $17.2 billion
Allocation to real estate: 11%

In a recent meeting of the investment committee, the Ohio Police & Fire Pension Fund (OP&F) has decided to commit $75 million to the Alterra IOS Venture III fund, which is managed by Alterra Property Group.

Alterra IOS Venture III, a fund focused on the industrial and residential sectors, is in the process of raising funds with a target of $750 million and a hard-cap of $850 million. The fund’s investment strategy is centered on properties located in the US, particularly those related to industrial outdoor storage (IOS), including storage facilities and building material assets.

In March 2022, Alterra IOS Venture II fundraising on $524 million, which exceeded its initial target of $400 million. Alterra specializes in IOS asset in the US.

OP&F, which manages $17.2 billion in assets, is moving closer to its desired long-term real estate allocation of 12 percent. As of 31 July, the allocation for real estate was 11 percent.

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