Andrew Vanderhorst

The Ohio Police & Fire Pension Fund is based in Columbus Ohio and manages about $11 billion in assets. The firm invests in hedge funds, private equity funds, and private real estate funds. The firm conducts hedge fund searches through RFPs but has no outstanding searches, although there may be an RFP issued early in 2010. For its real estate investments, the Fund works with the Townsend Group who conducts manager research and due diligence. OP&F has a 12% target allocation to real estate and only 7% is funded at this time (about $600 million).� All private equity research and fund selection takes place in-house for the Fund. OP&F has a 7% target allocation to private equity, but currently the firm only has 3% invested (about $350 million).The firm is undergoing an asset liability study but is still reviewing private equity opportunities. Until 2009, about 80% of the firm's private equity portfolio was made up of funds of funds investments, but going forward the firm is looking to invest primarily via single-manager vehicles. The firm has about 20% of its investments with Ohio-based partnerships but it is looking to expand its non-domestic exposure. The firm receives exposure to emerging and other non-US markets through its funds of funds. OP&F is looking to leverage its funds of funds investments to find single-manager funds to invest in directly. The firm encourages single-manager venture capital and buyout managers to form relationships with its current funds of funds managers as that is the best way to get in front of the firm. OP&F currently works with Abbott Capital, Adams Street Partners, HarbourVest Partners, Horsley Bridge Partners, Landmark Partners, Lexington Partners, Montauk TriGuard Management, Northgate Capital Group, Park Street Capital, Fort Washington Capital Partners, and Wilshire Private Markets Group.