OP&F News

OP&F investment notes, September 2021

Notes from the Investment Committee meeting on Sept. 29, 2021

Portfolio value:

The OP&F portfolio was valued at $18.58 billion as of Sept. 28.

Board approves private market commitment

OP&F will commit up to $30 million to Clearlake Capital Partners VII as a part of its 2021 Private Markets Investment Plan. Clearlake invests in control-oriented opportunities in North America, primarily in the technology, industrial and consumer sectors.

The 2021 OP&F Private Markets Investment Plan calls for between $80 million and $120 million in new investment commitments during the year. With the Clearlake commitment, OP&F has committed $110 million in 2021. The Private Markets portfolio at OP&F is valued at $2.0 billion, or 10.6 percent of the total portfolio. The target for private markets is 8.0 percent.

$60 million commitment made to real estate fund

After a recommendation from real estate consultant, Townsend, the OP&F Board approved a commitment of up to $60 million to Almanac Realty Securities IX. Almanac IX is a closed-end, value add fund that provides growth capital to real estate operating companies, primarily in the US.

Including Almanac, OP&F has committed to three real estate funds in 2021 totaling $145 million. The real estate portfolio at OP&F is valued at $1.76 billion, or 9.3 percent of the total portfolio. The target allocation for real estate is 12.0 percent.

Board approves additional $25 million to private credit commitment

The OP&F Board approved an additional $25 million to a commitment made in December 2020 to Raven Asset Based Credit Fund II. The original commitment to the fund was up to $50 million. Raven focuses on asset-based investments, targeting lower middle market opportunities in North America.

OP&F’s Private Credit portfolio is valued at $532 million, or 2.8 percent of the total portfolio. The target allocation for Private Credit is 5.0 percent. The 2021-22 investment plan for private credit (July 1, 2021 through June 30, 2022) calls for new investments totaling between $250-300 million.

Posted 10/4/2021

Other News

OP&F’s continued efforts for members on HELPS Act exclusion
- Posted October 22, 2021
False e-mail: a potential threat to your identity
- Posted October 12, 2021
OP&F investment notes, September 2021
- Posted October 04, 2021
OP&F Pre-Retirement Webinars 2021
- Posted October 08, 2021
Health care webinars Sept. 15-24
- Posted September 13, 2021
OP&F hosts flag raising ceremony on 9/11 anniversary
- Posted September 07, 2021
OP&F investment notes, August 2021
- Posted August 26, 2021
Danish named General Counsel for OP&F
- Posted August 18, 2021
Member’s Report Summer Newsletter now available
- Posted July 29, 2021
2020 financial reports now available
- Posted July 01, 2021
OP&F investment notes, June 2021
- Posted July 01, 2021
OP&F Names Foley Executive Director
- Posted June 30, 2021
Public can attend June OP&F Board meetings
- Posted June 18, 2021
No changes in health care process after sale of Aon Retiree Health Solutions
- Posted June 04, 2021
New videos help members connect to virtual appointments
- Posted June 03, 2021
OP&F Investment notes, May 2021
- Posted May 27, 2021
Public can attend May 26 OP&F Board meeting
- Posted May 20, 2021
Member’s Report Spring Newsletter now available
- Posted April 29, 2021
OP&F investment notes, April 2021
- Posted April 29, 2021
OP&F investment notes, March 2021
- Posted April 01, 2021
OP&F investment notes, February 2021
- Posted February 25, 2021
Beware of scam phone calls
- Posted February 15, 2021
OP&F investment notes, January 2021
- Posted January 28, 2021
Member’s Report Winter Newsletter now available
- Posted January 14, 2021
OP&F Trustee Moore recognized
- Posted January 06, 2021
2021 Direct deposit dates for benefit payments
- Posted December 23, 2020
Czack, Drum and Deal win terms on OP&F Board
- Posted December 21, 2020
Trustee election results announced by Dec. 21
- Posted December 04, 2020
Aon presenting special HRA webinars
- Posted December 04, 2020
OP&F investment notes, December 2020
- Posted December 03, 2020
Thank you, first responders
- Posted November 25, 2020
Trustee election ballots due back by Dec. 1
- Posted November 13, 2020
Proof of health care insurance letter
- Posted November 09, 2020
Be careful with your personal information
- Posted November 05, 2020
Pension funding status improves
- Posted October 28, 2020