Issue Date: December 20, 2011

Ohio Police & Fire to nab more real estate managers in 2012

By Rob Kozlowski

Published: December 15, 2011

Ohio Police & Fire Pension Fund, Columbus, plans to hire real estate managers in 2012 to get closer to its 12% target allocation, spokesman David Graham confirmed in an e-mail.

The managers will be recommended by $11.4 billion fund's real estate consultant, Townsend Group. No RFP will be issued.

The pension fund had an actual real estate allocation of 8.6%, or $996 million, as of Nov. 30.

Recommendations in the pension fund's 2012 real estate investment plan include considering international real estate investments and target commitments of $30 million to $70 million per investment.

The fund's real estate consultant, Townsend Group, also recommended changing the primary real estate benchmark to the NCREIF Fund Index-Open-End Diversified Core Equity from the NCREIF Property index.

Separately, the fund committed $25 million each to Green Equity Investors VI and Primus Capital Fund VII. The fund invested in all six of the previous Primus Capital funds from vintage years 1984-2007; the Green Equity commitment is the plan's first to the firm.

Also, investment staff in January will recommend the fund's first timberland investment manager to the board. An RFI was issued in July. The fund has a target allocation of 3%, which was adopted in March 2010.

— Contact Rob Kozlowski at rkozlowski@pionline.com

Neil Callahan

Rosemont Seneca Partners

401 Greenwich Street, Suite 400

New York, New York 10013

212-796-4037 (o)

917-945-9516 (m)

866-749-8879 (f)

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