OP&F Investment notes, August 2024

Portfolio value: The OP&F portfolio was valued at $18.68 billion as of Aug. 27.

OP&F commits to cold storage fund

The OP&F Board approved a real estate commitment of up to $75 million to WPC New Cold III. The closed-end opportunistic fund is concentrated in owning and operating automated temperature-controlled storage facilities in US, Europe, and APAC regions.

This represents OP&F’s fourth real estate commitment of 2024, which puts total commitments slightly above the targeted amount. OP&F’s real estate portfolio is valued at $1.84 billion, or 9.9 percent of the total portfolio. The target for real estate is 12 percent.

Infrastructure fund receives $125 million commitment

The Board also approved a commitment of up to $125 million to Blackstone Infrastructure Partners as a part of the OP&F Real Assets portfolio. The fund is a core plus, open-end fund with a focus primarily on North America. The fund will focus on opportunities in the energy transition, transportation infrastructure and digital infrastructure sectors.

The Blackstone commitment is the first real assets commitment of 2024 for OP&F. The Real Assets portfolio is valued at $1.13 billion, or 6.1 percent of the total portfolio. The interim target for real assets is 6.7 percent.

Posted 8/30/2024