By Muskan Arora
The $19.3B Ohio Police and Fire has $115M left to commit to its private credit portfolio, for the year ending June 30, 2025.
The pension plan had earmarked between $215 and $265 for its new commitments for the year 2024-25. According to its recent investment meeting agenda, Ohio P&F has allocated 3.3% (or $638M) of its total portfolio to private credit, with an interim target of 4%. The long-term target stands at 5%.
Most recently, the plan committed up to $50M to Strategic Value Special Situations Fund VI. The fund will target distressed corporate credit, as well as real estate, real assets and infrastructure opportunities, primarily in North America and Europe.
This is a new relationship for the pension plan.
In the Ohio region, the police and fire pension plan’s returns topped among five different plans in calendar year 2024. The plan returned 10.66% for the year, overperforming its benchmark at 7.5%.
Other plans’ returns include Ohio Public Employees Retirement System at 8.62%, State Teachers Retirement System at 9.98%, School Employees Retirement System at 9.54% and Ohio State Highway Patrol Retirement System at 9.6%.
