The $15 billion Ohio School Employees’ Retirement System (Ohio SERS) approved a new asset allocation that carved out a new asset class of private credit and increased exposure to global real assets and global private equity portfolios at the expense of hedge fund strategies, which are being eliminated as distinct asset class.
The shift of $1.4 billion to private market investments is significant and was done upon the recommendation of the pension’s general investment consultant Wilshire Associates, which said the change should improve return expectations.
The greatest shift is the new 5% target . . .
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