Key Takeaways
- • Ohio Police & Fire Pension Fund committed up to $100 million to the Jadian Evergreen Fund, a $22 billion pension's board decision made at its September 30 meeting.
- • The Jadian Evergreen Fund is an open-end, core-plus vehicle targeting industrial outdoor storage, land lease communities and industrial research and development facilities.
- • The commitment supports OP&F's goal of raising its real estate allocation to a 12% target from 8.65%, roughly $2 billion today.
- • As of June 30, OP&F reported one-, three- and five-year annualized returns of 17.15%, 13.86% and 8.94%.
Summary
The Ohio Police & Fire Pension Fund, based in Columbus, Ohio, has committed up to $100 million to the Jadian Evergreen Fund, according to the pension's board decision made at its September 30 meeting. The fund is managed by Jadian Capital L.P., an alternative investment firm based in Stamford, Connecticut, focused on real estate and private equity.
The Jadian Evergreen Fund is an open-end, core-plus vehicle seeking investments in industrial outdoor storage, land lease communities and industrial research and development facilities. The commitment forms part of OP&F's effort to lift its real estate holdings to a target allocation of 12% of the portfolio, up from its current 8.65% weighting, which equals about $2 billion. According to fund documents, the fund's allocations can reach up to 124% due to its use of leverage in specific categories.
OP&F, which reported $22 billion in assets as of June 30, posted one-, three- and five-year annualized returns of 17.15%, 13.86% and 8.94%, respectively. As of August 31, the fund allocated 46.73% of assets to growth assets, 43.99% to inflation-oriented assets, 22.59% to defensive assets and 10.76% to defensive growth assets.
At the same meeting, the board received an educational presentation from its general investment consultant, Wilshire, in preparation for a future asset liability study.
The Jadian Evergreen Fund is an open-end, core-plus vehicle seeking investments in industrial outdoor storage, land lease communities and industrial research and development facilities. The commitment forms part of OP&F's effort to lift its real estate holdings to a target allocation of 12% of the portfolio, up from its current 8.65% weighting, which equals about $2 billion. According to fund documents, the fund's allocations can reach up to 124% due to its use of leverage in specific categories.
OP&F, which reported $22 billion in assets as of June 30, posted one-, three- and five-year annualized returns of 17.15%, 13.86% and 8.94%, respectively. As of August 31, the fund allocated 46.73% of assets to growth assets, 43.99% to inflation-oriented assets, 22.59% to defensive assets and 10.76% to defensive growth assets.
At the same meeting, the board received an educational presentation from its general investment consultant, Wilshire, in preparation for a future asset liability study.
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