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Ohio Highway Patrol Retirement System
| Ohio Highway Patrol Retirement System | |
 | |
| Basic facts | |
| Location: | Columbus, Ohio |
| Top official: | Maj. Matthew L. Them, chair |
| Year founded: | 1941 |
| Active members: | 1,400 |
| Website: | Official website |
| Total assets under management | |
| 2022: | $976,278,286 |
- See also: Public pensions in Ohio
The Ohio Highway Patrol Retirement System is a Ohio state pension fund that provides retirement, disability, and survivor benefits to the for troopers and communications personnel employed by the Highway Patrol . The Ohio Highway Patrol Retirement System $976,278,286 ($976.28 million) in total assets under management as of December 31, 2022.[1]
The management of public pension funds can indicate support or opposition to environmental, social, and corporate governance (ESG) investment practices. ESG investing considers the extent to which corporations align with and promote certain non-financial standards, such as net carbon emission or corporate board diversity goals. States typically hire asset management companies (AMCs) to direct pension plan investments, some of which have ESG commitments that guide their strategies.
This article features the following sections:
- Background: Information about the structure and functions of the [Ohio Highway Patrol Retirement System.
- Pension performance overview: Overview of the funding level and assets managed by the [Ohio Highway Patrol Retirement System.]
- Assets and asset management: Information about the asset management companies (AMCs) that contract with [Ohio Highway Patrol Retirement System, including a list of contracting AMCs that are participants in the Net Zero Asset Managers Initiative and the Climate Action 100+ initiative.
- Governance and accountability: Details about the [Ohio Highway Patrol Retirement System's oversight board, including members and selection.
Background
- See also: Public pensions
The Ohio Highway Patrol Retirement System, founded in 1941, operates as defined benefit pension plans based on a formula established by Ohio state law. These plans—based on the employee's length of service and salary— provide retirement, disability, and survivor benefits to the state's active, inactive, and retired Ohio highway patrol and communication employees.[2]
The Ohio Highway Patrol Retirement System served over 1,400 active members and approximately 1,500 retirees and beneficiaries as of February 2023.[2]
Pension performance overview
The following table features information about the funding level and assets managed by the Ohio Highway Patrol Retirement System as of December 31, 2022:[3]
| Ohio Highway Patrol Retirement System pension performance (December 31, 2022) | |||
|---|---|---|---|
| Fiscal year | Percent funded | Unfunded liabilities | Total assets[4] |
| 2022 | 81.9% | $176,729,909 | $976,278,286 |
Assets and asset management
| Environmental, social, and corporate governance |
|---|
|
| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • ESG legislation tracker • Economy and Society: Ballotpedia's weekly ESG newsletter |
Asset management companies (AMCs) are hired to manage asset investment for state pension funds across all 50 states.
As of October 2024, 330 AMCs were members of the Net Zero Asset Managers Initiative (NZAM), and 391 AMCs were investor participants in the Climate Action 100+ initiative. Both international asset manager initiatives aimed to align the investment decisions of signatories with the goal of achieving net zero greenhouse gas emissions by 2050.[5][6]
NZAM announced on January 13, 2025, that it was suspending operations and removing the commitment statement and list of signatories from its website. The group said in a statement it would reevaluate its plans and operations in light of “[r]ecent developments in the U.S. and different regulatory and client expectations in investors’ respective jurisdictions.”[7]
List of AMCs contracting with the Ohio Highway Patrol Retirement System
The Ohio Highway Patrol Retirement System contracted with 90 asset management companies (AMCs) as of December 31, 2023. Of those companies, none were investor participants in Climate Action 100+, and three were members of NZAM as of October 2024. The following list identifies the AMCs (and in some cases, the specific funds) contracting with the Ohio Police and Fire Pension Fund:[1]
| Ohio Highway Patrol Retirement System asset management companies Click on a column header below to sort the list of asset managers. | |||||
|---|---|---|---|---|---|
| AMC name | Investment type | Assets under management | Percentage of total fund assets | NZAM Initiative signatory as of October 2024[8] | Climate Action 100+ signatory as of October 2024 |
| ITT Inc. | Domestic Equity Security; | No | No | ||
| Meritage Homes Corp. | Domestic Equity Security; | No | No | ||
| Option Care Health Inc. | Domestic Equity Security; | No | No | ||
| Smartsheet Inc. | Domestic Equity Security; | $541,713 | 0.050% | No | No |
| M/I Homes Inc. | Domestic Equity Security; | 533,052 | 0.049% | No | No |
| Casella Waste Systems Inc. | Domestic Equity Security; | 476,714 | 0.044% | No | No |
| Saia Inc. | Domestic Equity Security; | 465,767 | 0.043% | No | No |
| Samsara Inc. | Domestic Equity Security; | 464,184 | 0.043% | No | No |
| Haemonetics Corp. | Domestic Equity Security; | 454,647 | 0.042% | No | No |
| Wingstop Inc. | Domestic Equity Security; | 446,984 | 0.041% | No | No |
| Other | Domestic Equity Security; | 434,274 | 0.040% | No | No |
| Vanguard Institutional Index Fund | Domestic Equity Commingled Funds; | 431,398 | 0.040% | No | No |
| DFA Small Cap Subtrust | Domestic Equity Commingled Funds; | 428,489 | 0.040% | No | No |
| Ascendis Pharmaceuticals A/S ADR | International Equity Security; | 12,055,368 | 1.117% | No | No |
| Axalta Coating Systems Inc. | International Equity Security; | $181,312,520 | 16.795% | No | No |
| Fabrinet | International Equity Security; | 21,703,074 | 2.010% | No | No |
| Alkermes PLC | International Equity Security; | $798,523 | 0.074% | No | No |
| WNS Holdings, Inc. | International Equity Security; | 383,861 | 0.036% | No | No |
| Sensata Technologies Holdings | International Equity Security; | 355,917 | 0.033% | No | No |
| Moonlake Immunotherapeutics | International Equity Security; | 317,623 | 0.029% | No | No |
| BRP Inc. | International Equity Security; | 313,472 | 0.029% | No | No |
| Camtek Ltd. | International Equity Security; | 300,184 | 0.028% | No | No |
| Bicycle Therapeutics PLC | International Equity Security; | 258,469 | 0.024% | No | No |
| Other | International Equity Security; | 185,677 | 0.017% | No | No |
| Invesco Emerging Markets | International Equity Commingled Funds; | 135,291 | 0.013% | Yes | No |
| Driehaus International Small Cap Growth | International Equity Commingled Funds; | 117,339 | 0.011% | No | No |
| DFA International Small Cap Value | International Equity Commingled Funds; | 187,354 | 0.017% | No | No |
| Mondrian Global All Countries World Equity | Global Equity Commingled Funds; | $31,296,316 | 2.899% | No | No |
| Ninety-One Global Franchise | Global Equity Commingled Funds; | 13,274,655 | 1.230% | No | No |
| Bailie Gifford Long Term Global Growth | Global Equity Commingled Funds; | 9,346,855 | 0.866% | No | No |
| USA Treasury Notes 3.375% Due 5/15/2033 | Fixed Income Security; | $97,836,117 | 9.063% | No | No |
| USA Treasury Notes 3.500% Due 2/15/2033 | Fixed Income Security; | 80,251,332 | 7.434% | No | No |
| USA Treasury Notes 4.125% Due 11/15/2032 | Fixed Income Security; | 46,417,903 | 4.300% | No | No |
| USA Treasury Notes 2.500% Due 02/15/2045 | Fixed Income Security; | $3,790,776 | 0.351% | No | No |
| USA Treasury Notes 2.375% Due 02/15/2042 | Fixed Income Security; | 3,006,163 | 0.278% | No | No |
| FNMA Pool AL9992 3.000% Due 02/01/2037 | Fixed Income Security; | 2,642,848 | 0.245% | No | No |
| FHLB 4.750% Due 12/10/2032 | Fixed Income Security; | 2,582,154 | 0.239% | No | No |
| USA Treasury Notes 2.875% Due 05/15/2032 | Fixed Income Security; | 2,570,355 | 0.238% | No | No |
| FNMA Pool CA3967 3.500% Due 08/01/2049 | Fixed Income Security; | 1,719,595 | 0.159% | No | No |
| FHLMC Pool SD7556 3.000% Due 08/01/2052 | Fixed Income Security; | 1,392,579 | 0.129% | No | No |
| Other | Fixed Income Security; | 1,297,296 | 0.120% | No | No |
| Silver Point Specialty Lending Fund | Fixed Income Commingled Funds; | 1,216,224 | 0.113% | No | No |
| HIG Whitehorse Principal Lending Fund | Fixed Income Commingled Funds; | 1,097,342 | 0.102% | No | No |
| BlackRock Global Credit Opportunities II Fund | Fixed Income Commingled Funds; | 30,547,927 | 2.830% | Yes | No |
| HIG Whitehorse Direct Lending Adv Fund | Fixed Income Commingled Funds; | $19,542,817 | 1.810% | No | No |
| Proterra Credit Fund 2 | Fixed Income Commingled Funds; | 17,456,070 | 1.617% | No | No |
| Silver Point Specialty Credit Fund III | Fixed Income Commingled Funds; | 7,424,579 | 0.688% | No | No |
| Harrison Street Core Property | Real Estate Commingled Funds; | 5,938,548 | 0.550% | No | No |
| Long Wharf Real Estate Partners Fund IV | Real Estate Commingled Funds; | 5,461,413 | 0.506% | No | No |
| Long Wharf Real Estate Partners Fund V | Real Estate Commingled Funds; | 4,674,283 | 0.433% | No | No |
| Long Wharf Real Estate Partners Fund VI | Real Estate Commingled Funds; | $34,110,382 | 3.160% | No | No |
| Marathon European Credit Opportunity Fund III | Real Estate Commingled Funds; | 87,867 | 0.008% | No | No |
| Oaktree Real Estate Opportunities Fund IV | Real Estate Commingled Funds; | 11,503,323 | 1.066% | No | No |
| Oaktree Real Estate Opportunities Fund V | Real Estate Commingled Funds; | 10,295,707 | 0.954% | No | No |
| Oaktree Real Estate Opportunities Fund VI | Real Estate Commingled Funds; | 6,406,797 | 0.593% | No | No |
| Oaktree Real Estate Opportunities Fund VII | Real Estate Commingled Funds; | 10,831 | 0.001% | No | No |
| Oaktree Real Estate Opportunities Fund VIII | Real Estate Commingled Funds; | 75,982 | 0.007% | No | No |
| Alpine Investors VIII, LP | Private Equity Holdings; | 2,221,314 | 0.206% | No | No |
| Bain Capital Distressed and Special Situations 2019 (A), LP | Private Equity Holdings; | 5,776,681 | 0.535% | No | No |
| BDCM Opportunity Fund V, LP | Private Equity Holdings; | 12,888,409 | 1.194% | No | No |
| Blue Point Capital Partners Fund III | Private Equity Holdings; | $8,489,291 | 0.786% | No | No |
| Blue Point Capital Partners Fund IV | Private Equity Holdings; | 12,392,043 | 1.148% | No | No |
| Carlyle Global Infrastructure Opportunity Fund, LP | Private Equity Holdings; | 7,045,876 | 0.653% | No | No |
| GCM Grosvenor Private Equity Opportunities Fund, LP¹ | Private Equity Holdings; | 4,373,081 | 0.405% | No | No |
| Genstar X LP | Private Equity Holdings; | 14,741,902 | 1.366% | No | No |
| HarbourVest Partners 2013 Direct Fund LP | Private Equity Holdings; | 9,642,193 | 0.893% | No | No |
| HarbourVest Partners Co-Investment Fund IV LP | Private Equity Holdings; | 209,367 | 0.019% | No | No |
| HarbourVest Partners Co-Investment Fund IV LP AIV | Private Equity Holdings; | 14,144,615 | 1.310% | No | No |
| HarbourVest Partners Co-Investment Fund V LP | Private Equity Holdings; | 3,877,237 | 0.359% | No | No |
| HarbourVest Partners Co-Investment Fund V LP AIV | Private Equity Holdings; | 12,750,844 | 1.181% | No | No |
| HarbourVest Partners Co-Investment Fund VI LP | Private Equity Holdings; | -331,708 | -0.031% | No | No |
| HIG Advantage Buyout Fund, LP | Private Equity Holdings; | 16,348,061 | 1.514% | No | No |
| HIG Middle Market LBO Fund III LP | Private Equity Holdings; | 2,466,199 | 0.228% | No | No |
| HIG Middle Market LBO Fund IV LP | Private Equity Holdings; | 14,573,135 | 1.350% | No | No |
| HIG Whitehorse Equity Sidecar LP | Private Equity Holdings; | 19,495,184 | 1.806% | No | No |
| Kayne Anderson Energy Fund V | Private Equity Holdings; | 12,702,970 | 1.177% | No | No |
| Kayne Anderson Energy Fund VI | Private Equity Holdings; | 645,675 | 0.060% | No | No |
| Kayne Anderson Mezzanine Partners | Private Equity Holdings; | 3,045,558 | 0.282% | No | No |
| Kayne Anderson Private Energy Income Fund | Private Equity Holdings; | 2,597,579 | 0.241% | No | No |
| Kayne Anderson Private Energy Income Fund II | Private Equity Holdings; | 199,142 | 0.018% | No | No |
| Pantheon Multi-Strategy Program 2014 | Private Equity Holdings; | 32,854 | 0.003% | No | No |
| Pantheon USA Fund VII, LP | Private Equity Holdings; | 5,870,012 | 0.544% | No | No |
| PIMCO Corporate Opportunities Fund II | Private Equity Holdings; | 17,152,133 | 1.589% | No | No |
| Quantum Energy Partners VII, LP | Private Equity Holdings; | 36,717,039 | 3.401% | No | No |
| Quantum Energy Partners VII Co-Investment Fund, LP | Private Equity Holdings; | 2,722,771 | 0.252% | No | No |
| Evanston Capital Weatherlow Offshore Fund II | Fund of Hedge Funds Holdings; | 11,555,516 | 1.070% | No | No |
| Carlson Black Diamond Arbitrage Partners LP | Fund of Hedge Funds Holdings; | 17,509,944 | 1.622% | No | No |
| DSC Meridian Credit Opportunities Onshore Fund LP | Fund of Hedge Funds Holdings; | 1,666,799 | 0.154% | Yes | No |
| Partners Group Direct Infrastructure 2016 (USD) A, LP | Direct Infrastructure Holdings; | $35,513,587 | 3.290% | No | No |
| Partners Group Direct Infrastructure III (USD) A, LP | Direct Infrastructure Holdings; | 13,017,907 | 1.206% | No | No |
Governance and accountability
This section features information about the 11-member board of trustees that oversees the Ohio Highway Patrol Retirement System. The board of trustees that oversees the Ohio Highway Patrol Retirement System is made up of 11 members. Seven of the eleven members are elected -- five by the active members and two by the retirees. The Superintendent of the Ohio State Highway Patrol serves as an ex-officio member, and three members are appointed.[9]
Board of trustees membership
A 11-member board of trustees oversees the operation and administration of Ohio Highway Patrol Retirement System. The following individuals served on the board as of March 2024:[9]
- Maj. Matthew L. Them, chair
- Maj. (ret.) Darryl L. Anderson,vice chair
- Sgt. Derek L. Malone
- Lt. Christian J. Niemeyer
- Sgt. Brice A. Nihiser
- Tpr. Cynthia D. Wilt
- Sgt. (ret.) Michael P. Kasler
- Craig A. Warnimont
- Maj. (ret.) J.P. Allen
- Joseph H. Thomas
- Col. Charles A. Jones
See also
- Public pensions in Ohio
- Environmental, social, and corporate governance (ESG)
- Arguments about environmental, social, and corporate governance (ESG)
- Opposition to environmental, social, and corporate governance (ESG) investing
- Reform proposals related to environmental, social, and corporate governance (ESG)
- State legislative approaches opposing ESG investing
- State legislative approaches supporting ESG investing
External links
Footnotes
- ↑ 1.0 1.1 Ballotpedia, "Ballotpedia: Asset management data for state-administered pension funds across the 50 states," March 2023
- ↑ 2.0 2.1 NCPER, "Public Pension Profiles: Ohio Highway Patrol Retirement System (OHPRS) Executive Director, Carl Roark," accessed March 29, 2024
- ↑ [https://www.ohprs.org/ohprs/downloads/Annual%20Reports/2022.pdf, OHPRS, "2022 Annual Comprehensive Financial Report," accessed March 29, 2024]
- ↑ Note: By default, this refers to the actuarial valuation of total assets. In some cases, the total market value of assets is shown instead. See the cited source for details.
- ↑ The Net Zero Asset Managers Initiative, "The Net Zero Asset Managers Initiative," accessed January 26, 2023
- ↑ Climate Action 100+, "The Three Goals," accessed June 20, 2023
- ↑ Pensions and Investments, "Net Zero Asset Managers initiative to suspend activities in wake of BlackRock departure," accessed January 15, 2024
- ↑ Note: NZAM announced on January 13, 2025, that it was suspending operations and removing the commitment statement and list of signatories from its website.
- ↑ 9.0 9.1 OHPRS, "Board of Trustees," accessed March 29, 2024
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