Institution: Ohio Police & Fire Pension Fund
Headquarters: Columbus, US
AUM: $18.34 billion
Allocation to alternatives: 25.1%
The sixth fund by CapitalSpring is seeking $750 million in capital commitments targeting branded franchise restaurant sector in the US through credit tranching. The pension had previously committed $50 million to the fifth fund in the series back in 2017.
The $18.34 billion public pension’s private credit portfolio has a market value of $510 million, which is approximately 2.8 percent of its investment portfolio. The target for the asset class is set at 5.0 percent.
In order to reach the target level, the board has approved a revised 2021-22 private credit investment plan. The pacing plan calls to approve between $250 million to $300 million-worth of commitments between June 2021 and June 2022, and reach the target size within four years.
As illustrated below, the recent fund commitments made by OP&F has predominantly targeted various corporate and real estate debt vehicles.
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