OP&F News

OP&F Investment Notes, September 2019

Notes from the Investment Committee meeting on Sept. 25

Portfolio value:

The OP&F portfolio was $15.75 billion as of 9/24.

Commitment to direct lending fund approved

OP&F’s Board of Trustees approved a commitment of up to $50 million to the Blackrock Direct Lending Fund IX at its Sept. 25 meeting. The Blackrock fund specializes in direct lending to middle market companies.The commitment falls into OP&F’s private credit portfolio, which is currently valued at $370 million, or 2.4 percent of the total portfolio. The target for private credit is 5.0 percent of the total portfolio.

Real estate commitment approved

The Board also approved a commitment of up to $50 million to Black Creek Industrial Fund during its Sept. 25 meeting. Black Creek will seek to acquire and develop core and value-add industrial assets primarily in top-tier distribution markets.

The commitment to Black Creek is the first for the tactical portion of the OP&F real estate portfolio in 2019. The real estate portfolio is valued at $1.8 billion, or 11.5 percent of the total OP&F investment portfolio. The target is 12 percent for real estate.

Private markets commitment approved

Also approved at the OP&F Board’s Sept. 25 meeting was a commitment of up to $20 million to Cortec Group Fund VII. Cortec targets control investments in the lower middle market within North America. The 2019 investment plan for private markets calls for six recommendations of up to $20 each. The Cortec VII commitment is the fifth commitment of the year, totaling approximately $100 million. The private markets portfolio at OP&F is valued at $1.3 billion, or 8.5 percent of the total portfolio. The target for private markets is 8.0 percent.


Posted 09/26/2019

Other News

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
Trustee election ballots go out Oct. 26
- Posted October 26, 2020
OP&F investment notes, October 2020
- Posted October 22, 2020
A reminder about DROP distribution deadlines for 2020
- Posted October 13, 2020
Pre-Retirement Webinar recording now available online
- Posted October 12, 2020
Study of health care fund shows improvement
- Posted October 08, 2020
Pre-Retirement webinars scheduled this week
- Posted October 05, 2020
OP&F Investment Notes, September 2020
- Posted October 02, 2020
OP&F again offering stipend increase for low-income households
- Posted October 01, 2020
Member's Report Fall Newsletter now available
- Posted September 30, 2020
Health care webinars Sept. 15-24
- Posted September 04, 2020
OP&F Investment Notes, August 2020
- Posted August 28, 2020
Rescheduled trustee election schedule approved
- Posted August 27, 2020
OP&F retirees taking advantage of extended reimbursement deadlines
- Posted August 03, 2020
Pre-Retirement meetings to be webinars this year
- Posted August 03, 2020
Member’s Report Summer Newsletter now available
- Posted July 29, 2020
2019 financial reports now available
- Posted July 14, 2020
OP&F Investment Notes, June 2020
- Posted June 18, 2020
Deadline to submit 2019 health care claims now Sept. 30
- Posted June 16, 2020