Notes from the Investment Committee meeting on Jan. 26-27, 2021
The OP&F portfolio was valued at $17.18 billion as of 1/26.
2021 Real Estate Investment Plan
The OP&F Board approved a recommendation from its real estate consultant, The Townsend Group, for an investment plan calling for between $160 million and $220 million in new commitments for the asset class in 2021. The focus will remain on multi-family and industrial funds, while also considering other opportunities.
As of Dec. 31, the value of OP&F’s real estate portfolio was $1.64 billion, or 9.6 percent of the total portfolio. The target is 12.0 percent.
2021 Real Assets Investment Plan
For the calendar year 2021, Townsend also recommended a real assets investment plan, which was approved by the Board. The plan will focus on infrastructure opportunities. The plan also calls for a gradual increase in agriculture exposure over the next several years. No new investments are planned for timberland in the foreseeable future.
As of Dec. 31, the value of OP&F’s real assets portfolio was $567 million, or 3.3 percent of the total portfolio. The target is 8.0 percent.