Notes from the Investment Committee meeting on May 26, 2021
The OP&F portfolio was valued at $18.00 billion as of May 25.
Private markets commitment approved
OP&F’s Board approved a commitment of up to $20 million to Primus Capital Fund IX at its May meeting. The fund will focus on low and mid-market companies in North America, primarily in the health care, software and technology sectors.
OP&F’s 2021 Private Markets Investment Plan called for between $80 million and $120 million in new commitments for the year. Following this commitment, $60 million has been committed so far.
Primus and OP&F have a long relationship, dating back to 1984. OP&F’s private markets portfolio is valued at $1.76 billion, or 9.8 percent of the total portfolio. OP&F’s long-term target to private markets is 8.0 percent.
OP&F approves real estate commitment
The commitment to Ventas is the second real estate commitment in 2021 for OP&F, totaling $104 million. The target range for real estate in 2021 is between $160-220 million. The real estate portfolio is valued at $1.65 billion, or 9.2 percent of the total portfolio.