The Ohio Police & Fire Pension Fund committed up to $100 million to the Jadian Evergreen Fund, its board decided at its September 30 meeting.
The fund is an open-end, core-plus fund seeking investments in industrial outdoor storage, land lease communities and industrial research and development facilities. Jadian Capital L.P. is an alternative investment firm based in Stamford, Connecticut, and focused on real estate and private equity.
The commitment is part of Columbus, Ohio-based Ohio Police & Fire’s effort to boost its real estate assets to meet its target allocation of 12% of the portfolio from its current 8.65% weighting, which is equal to about $2 billion. The fund’s allocations go up to 124% due to its “implementation of leverage” in specific categories, according to fund documents.
As of June 30, the $22 billion OP&F reported one-, three- and five-year annualized returns of 17.15%, 13.86% and 8.94%, respectively.
At the September 30 meeting, the OP&F board also viewed an educational presentation from its general investment consultant Wilshire to prepare for a future asset liability study.
As of August 31, the fund divided its allocations into the following categories: 46.73% of assets to growth assets, 43.99% to inflation-oriented assets, 22.59% to defensive assets, and 10.76% to defensive growth assets.
Tags: Ohio Police & Fire Pension Fund, Real Estate, Wilshire