Ohio Police & Fire discloses $45 million in private market commitments
Fund also puts Bridgewater Associates on watch for performance issues
Ohio Police & Fire Pension Fund, Columbus, made two new private markets commitments totaling up to $45 million.
The $17.7 billion pension fund committed up to $25 million to TA XIV, a middle-market growth equity fund managed by
TA Associates, and up to $20 million to Veritas Capital Vantage Fund, a North American buyout fund managed by
Veritas Capital Fund Management, spokesman David Graham said in an email.
The pension fund previously committed up to $20 million each to TA XIII and Veritas Capital Fund VII, both in 2019.
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Jim Fischer
Orange Township has hired Nathan McNeil as its new fire chief.
A recently retired U.S. Air Force veteran, McNeil previously was deputy fire chief at Cannon Air Force Base in New Mexico and at Clear Air Station in Alaska. His 22-year active-duty military career included stations in Texas and Missouri, plus multiple deployments overseas.
Township trustees approved his hiring April 5.
“It’s not different at all,” McNeil said of military and civilian fire service, “in that they have the same purpose, which is to serve a community.”
“That’s a strength I see here. That everyone in the department has the desire to serve and to offer their best at all times,” McNeil told
Ohio Police & Fire collars Barings to run $180 million pionline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pionline.com Daily Mail and Mail on Sunday newspapers.
Ohio Police & Fire returns 9.2% for fiscal year
Bloomberg
Ohio Police & Fire Pension Fund, Columbus, returned a gross 9.2% for the year ended Dec. 31, which is also the end of its fiscal year.
The return fell short of the $17.2 billion pension fund s policy benchmark return of 9.8%, spokesman David Graham said in an email.
For three, five and 10 years ended Dec. 31, the pension fund returned an annualized gross 8.2%, 10% and 9.1%, respectively, above the respective benchmarks of 7.6%, 9.2% and 8.1%.
For the year ended Dec. 31, 2019, the pension fund returned a gross 17.9%.
By asset class, private markets was the top performer with a net return of 22.3% for the year ended (equal to its 22.3% benchmark), followed by domestic equities at a gross 22.2% (below its benchmark of 20.8%).
Imagine your favorite company getting sued for holding too much cash.
I know, that s a big statement. But hear me out.
Corporations, pension funds and insurance companies anyone responsible to stakeholders could one day face class action lawsuits if they don t diversify into other reserves assets. It s not beyond the realm of possibility, especially in today s litigious-happy world.
Michael Saylor famously bought bitcoin last year to diversify and protect the buying power of MicroStrategy s surplus cash…half a billion dollars worth. Elon Musk recently did the same for Tesla, plowing $1.5 billion into bitcoin. Before either of these was Overtstock.com. Remember them?