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Alternative Assets  + Private Debt  |  June 18, 2025
Ohio Police & Fire Pension Fund Commits $50M to Distressed Debt Strategy 
Joe Palmisano
By: Joe Palmisano

Ohio Police & Fire Pension Fund Commits $50M to Distressed Debt Strategy 

The $19 billion Ohio Police & Fire Pension Fund approved a $50 million commitment to Strategic Value Special Situations Fund VI at its April 30, 2025, board meeting, following a recommendation from Aksia. Managed by Strategic Value Partners, the fund focuses on distressed and special situations investments in core industries with stable cash flows, primarily in North America and Europe. 

This follows similar moves by other pensions in 2025. The Connecticut Retirement Plans and Trust Funds allocated $250 million to the same fund, while the Ohio School Employees Retirement System committed $75 million in April. 

The Columbus-based pension fund currently has over $630 million invested in private credit, approaching its 4% target allocation for the asset class. Additionally, it maintains a 7.6% allocation to private markets against an 8.5% target, per recent meeting documents.  

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Ohio Police & Fire Pension Fund

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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