Ohio Police & Fire commits $35m to GTCR X

The pension boosted its allocation target to private equity to 4.8% earlier this year, and is working to build its exposure to the asset class.

The $11.3 billion Ohio Police & Fire Pension Fund has committed $35 million to GTCR X as the pension works to boost its private equity holdings toward its elevated target.

The pension bumped its private equity allocation to 4.8 percent earlier this year from the previous target of 3 percent. Its actual allocation is about 3.45 percent.

Ohio Police & Fire also ramped up its allocation to real estate to 12 percent, with an actual allocation of 6.3 percent, a spokesperson told PEO.

While the pension has only made one other private equity commitment this year, it is looking to commit to another fund by year’s end, the spokesperson said.

“There’s room in the plan to bring more commitments to the board,” the spokesperson said.

GTCR X is targeting $3 billion and was launched in the last few months. The firm collected $2.75 billion on its previous fund in 2006.

The firm has attracted some state pension interest in recent months, as public systems in Massachusetts, Washington State and Maine have allocated capital to the fund.