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OHIO pension reveals trio of new fund commitments, ups real estate allocation by 5%

4 Jul 2014

ohio-flag-1076748-mThe £11.5bn Ohio School Employees Retirement System has increased its allocation to global real estate by five per cent, to a target of 15 per cent as of this week.

In its 2014 Annual Investment Plan the board said, “While real estate will continue to be the predominant asset type within the real assets portfolio, staff plans for some limited exposure to infrastructure.”

The report also reveals that the LP’s target allocation to global private equity is unchanged at 10 per cent, as are targets for global equity, which takes the biggest chunk of investment at 45 per cent, followed by global bonds.

The pension fund was valued at £11.56bn as of April 30, an increase of $110m compared to the previous month. During 2013 investments rose by about 15 per cent.

The SERS board has allocated $50m to mid-market private equity firm Levine Leichtman as part of the three new investments for the next year ahead.

Private investment firm Highbridge Principal Strategies’ Specialty Loan Fund and PIMCO’s Bank Recapitalization and Value Opportunities Fund are also set to benefit from SERS’ $11.56bn fund for the first time, each netting $40m.

Levine Leichtman held a final close of $1.65bn for its fifth fund, exceeding its initial $1.5bn target in March of this year.

The firm manages about $7bn of institutional capital with companies in the equipment rental, specialty finance restaurant and manufacturing sectors included in its portfolio.

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