Ohio Police & Fire Approves Up to $100M for Jadian Evergreen Fund

The Ohio Police & Fire Pension Fund has approved up to $100 million to the Jadian Evergreen Fund, adding a real estate investment as its property allocation remains below its long-term policy target.

Jadian Capital invests across real estate, related assets and asset-intensive businesses. The manager focuses primarily on noncore property sectors and invests through equity, credit, distressed opportunities and platform creation.

The commitment represents approximately 0.45% of the retirement system’s $22.1 billion portfolio. As of Sept. 30, real estate accounted for 8.88% of pension assets, compared with a 12% long-term policy target.

Trustees unanimously approved the commitment in September following a recommendation from real estate consultant Townsend, according to the pension system’s board report.

Other private-market allocations also remained below policy targets. Private equity represented 7% of assets against an 8.5% target, while private credit stood at 3.47%, compared with a 4% target.

The retirement system also reported allocations of 6.98% to real assets and 5.76% to midstream energy infrastructure. Commodities accounted for another 2.15%.

Trustees also approved extending third-quarter interim policy weights through the fourth quarter, maintaining the temporary allocation framework alongside the new real estate commitment.