OP&F commits $50m to Cerberus debt vehicle

Ohio Police & Fire Pension Fund makes third private debt commitment in current plan year.

Institution: Ohio Police & Fire Pension Fund
Headquarters: Columbus, United States
AUM: $17.43 billion
Allocation to private debt: 3.06%

During its recent meeting, the Ohio Police & Fire Pension Fund revealed that it invested $50 million in Cerberus Levered Loan Opportunities Fund V. Cerberus primarily offers secured debt to core and upper mid-market US companies.

This marks the third private debt commitment for the current plan year, which started 1 July 2023, bringing the total for the commitments to $150 million. The pension’s target for the year ranges from $235 million-$285 million.

As of now, OP&F’s private credit portfolio is valued at more than $515 million, which represents 2.9 percent of the total portfolio. The pension fund has a target allocation of 5 percent for private credit.

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