OP&F Investment notes, November 2023

Notes from the Investment Committee meetings on Nov. 1.

Portfolio value: The OP&F portfolio was valued at $16.7 billion as of Oct. 30.

Townsend provides 2nd quarter real estate performance

OP&F’s real estate consultant, Townsend, provided the Board of Trustees a report on investment performance for the asset class at the Nov. 1 meeting. Townsend noted that the net return for the quarter ended June 30 was negative 2.3 percent. OP&F’s real estate portfolio was valued at $1.9 billion as of Sept. 30, or 11.45 percent of the total portfolio. The target for the asset class is 12 percent.

Private Markets Investment Plan approved for 2024

The OP&F Board approved a plan for private markets investing for 2024 which calls for between $130 million and $160 million in new commitments. OP&F’s private markets portfolio is valued at $1.4 billion as of Sept. 30, or 8.55 percent of the total portfolio. The target for the asset class is 10.0 percent. So far in 2023, OP&F has committed $195 million to private markets investments.

Posted 11/02/2023