Key Takeaways
- • Ohio Police & Fire Pension Fund commits $100 million to Jadian Evergreen Fund, a newly established open-ended core plus real estate strategy, marking the fund's first manager partnership with Jadian Capital.
- • The $22 billion pension fund remains underweight to real estate with $1.96 billion (8.65% of assets) versus a 12% target allocation, creating a significant deployment opportunity in the asset class.
- • Jadian Evergreen Fund targets industrial, outdoor storage, land lease communities, and industrial R&D facilities as primary property types within its core plus strategy.
- • The commitment reflects OP&F's broader 2026 real estate allocation strategy, which includes up to $525 million earmarked for real estate and real assets with emphasis on data centers and alternative property types.
Summary
Ohio Police & Fire Pension Fund (OP&F), a $22 billion public pension system based in Columbus, has allocated $100 million to the Jadian Evergreen Fund, establishing its first manager relationship with Jadian Capital. The newly formed open-ended fund pursues a core plus real estate strategy targeting industrial properties, outdoor storage facilities, land lease communities, and industrial research and development spaces.
The commitment addresses a meaningful allocation gap within OP&F's portfolio. The pension fund's current real estate exposure stands at $1.96 billion, representing 8.65% of total plan assets, compared to the fund's 12% strategic target. This 3.35 percentage-point underweight suggests the fund has identified meaningful dry powder for real estate deployment and is actively moving to close the allocation gap through commitments such as the Jadian investment.
The Jadian allocation is part of OP&F's broader real estate and real assets strategy for 2026. The pension fund has designated up to $525 million for deployment across real estate and real assets during the year, with specific focus on data center exposure and alternative property types. This reflects a strategic shift within the portfolio toward infrastructure and alternative real estate sectors alongside traditional core holdings. The open-ended structure of the Jadian Evergreen Fund provides OP&F with ongoing deployment flexibility rather than the time-bound capital calls typical of closed-end real estate funds, aligning with the fund's longer-term allocation objectives.
The commitment addresses a meaningful allocation gap within OP&F's portfolio. The pension fund's current real estate exposure stands at $1.96 billion, representing 8.65% of total plan assets, compared to the fund's 12% strategic target. This 3.35 percentage-point underweight suggests the fund has identified meaningful dry powder for real estate deployment and is actively moving to close the allocation gap through commitments such as the Jadian investment.
The Jadian allocation is part of OP&F's broader real estate and real assets strategy for 2026. The pension fund has designated up to $525 million for deployment across real estate and real assets during the year, with specific focus on data center exposure and alternative property types. This reflects a strategic shift within the portfolio toward infrastructure and alternative real estate sectors alongside traditional core holdings. The open-ended structure of the Jadian Evergreen Fund provides OP&F with ongoing deployment flexibility rather than the time-bound capital calls typical of closed-end real estate funds, aligning with the fund's longer-term allocation objectives.
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