OP&F Investment notes, September 2023

Ohio Police & Fire Pension Fund investment notes, September 2023
Notes from the Investment Committee meetings on Sept. 27

Portfolio value: The OP&F portfolio was valued at $16.9 billion as of Sept. 26

OP&F commits $80 million to real assets fund
The OP&F Board approved a commitment of up to $80 million to EnCap Energy Transition Fund II, which specializes in energy transition and renewable power opportunities in North America.

The OP&F real assets portfolio is valued at $1.04 billion as of Aug. 31, or 6.0 percent of the total OP&F portfolio. This is OP&F’s second real assets commitment of 2023.

$50 million committed to private credit fund
OP&F is committing up to $50 million to Putnam Hill Private Credit Fund. The fund is considered a core U.S. middle market fund focusing on loans to private companies in North America that are private equity sponsored.

The 2023 (7/2023-6/2024) OP&F Private Credit Plan target is $235-285 million and this represents the second commitment for the 2023 Plan year. OP&F’s private credit portfolio is valued at $533 million, or 3.1 percent of the total portfolio. The eventual policy target is 5.0 percent.

Posted 09/29/2023