OPF ropes off $175m for private markets portfolio

The Ohio pension, currently short of its 8 percent target for private investments, has committed $30m to two Marlin Equity funds. 

Ohio Police and Fire Pension Fund (OPF) has set aside $175 million in commitments for its private markets portfolio through January 2018, the Columbus, Ohio-based limited partner said in an investment note.

While its target allocation for its private investments is 8 percent, OPF said that segment of its fund was valued at $887 million, or a 6.2 percent of its portfolio.

The fund also committed $30 million to two Marlin Equity funds: $24 million to Marlin Equity V and Marlin Heritage II. The funds target deals in the upper and lower ends of the mid-market, respectively. That was the final private market investment for 2016, which runs through 25 January.

Private debt commitments include a $30 million to Glendon Capital Management’s $1 billion distressed debt fund Glendon Opportunities Fund. OPF manages a $14.45 billion portfolio and provides pension and disability benefits to full-time police officers and firefighters.