Ohio Police and Fire Pension Fund

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Ohio Police & Fire Pension Fund
Basic facts
Location:	Columbus, Ohio
Top official:	Marco Miller, chair
Year founded:	1965
Active members:	27,000
Website:	Official website
Total assets under management
2023:	$17,758,763,990

See also: Public pensions in Ohio

The Ohio Police and Fire Pension Fund is an Ohio state pension fund that provides retirement, disability, and survivor benefits to the state's full-time police officers and firefighters. The Ohio Police and Fire Pension Fund had $17,758,763,990 ($17.8 billion) in total assets under management as of January 1, 2023.

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 Police and Fire Pension Plan.
• Pension performance overview: Overview of the funding level and assets managed by the Ohio Police and Fire Pension Plan.
• Assets and asset management: Information about the asset management companies (AMCs) that contract with Ohio Police and Fire Pension Plan, 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 Police and Fire Pension Plan's oversight board, including members and selection.

Background

See also: Public pensions

The Ohio Police and Fire Pension Plan, founded in 1965, 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 full time police officers, full time firefighters, and their families.

The Ohio Police and Fire Pension Plan served over 27,000 active members and approximately 30,000 retirees and beneficiaries as of March 2024.

Pension performance overview

The following table features information about the funding level and assets managed by the Ohio Police and Fire Pension Fund as of January 1, 2023:

Ohio Police and Fire pension performance (January 1, 2023)
Fiscal year	Percent funded	Unfunded liabilities	Total assets
2023	70.3%	$7,604,656,394	$17,758,763,990

Assets and asset management

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.

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.”

List of AMCs contracting with the Ohio Police and Fire Pension Fund

The Ohio Police and Fire Pension Fund contracted with 158 asset management companies (AMCs) as of August 25, 2021. Of those companies, 2 were investor participants in Climate Action 100+, and 1 was a member of NZAM as of 2024. The following list identifies the AMCs (and in some cases, the specific funds) contracting with the Ohio Police and Fire Pension Fund:

• Advent International GPE IX
• Advent International GPE VII
• Advent International GPE VIII
• Advent International GPE X
• AEW IX
• AEW VII
• Almanac Realty Securities IX
• Almanac Realty Securities VIII
• Altaris Constellation Partners IV
• Altaris Health Partners V
• Alteris Health Partners IV
• Ares Industrial Real Estate Fund
• ArrowMark Global Opportunities Fund II
• Arrowstreet
• Asana Fund I
• Barings International Small Cap Equity
• Blackrock Direct Lending Fund IX
• Blackstone Capital Partners VII
• Blackstone Real Estate Partners V
• Blackstone Real Estate Partners VI
• Blackstone Real Estate Partners VII
• Blackstone Real Estate Partners VIII
• Blue Point II
• Bridgewater
• Bridgewater Associates
• Brookfield Brazil Timber Fund II
• Brookfield Premier
• Brookfield Timberlands Fund V
• CapitalSpring Investment Partners V
• CapitalSpring Investment Partners VI
• Causeway Capital Mgt
• Cinven Sixth Fund
• Clearlake Capital Partners VII
• Colony Capital VIII
• Cortec VII
• Cortland Enhanced Value Fund V
• Cortland Partners Grown & Income Fund
• Crayhill Principal Strategies Fund II
• Dimensional Fund Advisors
• DivcoWest Fund III
• EQT Exeter Core Plus Fund IV
• EQT VII LP
• EQT VIII LP
• Exeter Industrial Value Fund II
• Exeter Industrial Value Fund III
• Exeter Industrial Value Fund IV
• Exeter Industrial Value Fund V
• Exeter Industrial Value Fund VI
• Fairfield US Multifamily Core Plus II
• Flight Fund I
• Forest Investment Associates LRT I
• Fortress Japan Opportunity Fund I
• Fortress Japan Opportunity Fund II
• Francisco Partners III
• Francisco Partners IV
• Francisco Partners VI
• Gerrity Retail Fund 2
• Global Forest Partners GTI 10
• Green Equity Fund VI
• Greystar Equity Partners IX
• Greystar Equity Partners VIII
• GSO European Senior Debt Fund
• GSO European Senior Debt Fund II
• GTCR Strategic Grown Fund
• GTCR XI
• GTCR XI
• GTCR XII
• GTCR XIII
• Hancock Timber Resource Group
• Harding Loevner
• Harvest Partners VI
• Harvest Partners VII
• Harvest Partners VIII
• Heitman Asia Pacific Property Investors Fund
• Heitman Core Property Fund
• HIPEP IV
• Investcorp-Cardinal IAM LLC
• Jamestown Premier Property Fund
• JP Morgan Strategic Property Fund
• KKR ASIA FUND III
• KKR Lending Partners II
• LaSalle US Property Fund
• Lion Industrial Trust
• LittleJohn VI
• Lone Star Fund V
• Lone Star Fund VI
• Lone Star Real Estate Fund
• Loomis Sayles
• Loomis Sayles
• Loomis Sayles Illiquid Bond Account
• MacKay Shields
• Macquarie (formerly Delaware Investments)
• manulife US Real Estate Fund LP
• Marlin Equity V
• Marlin Heritage II
• MBK Partners Fund IV
• MBK Partners Fund V
• MC Credit Partners
• Morenthaler VII
• Morgan Stanley Prime Property Fund
• Neuberger Berman (NZAM, Climate Action 100+)
• NGP Natural Resources XI
• Oaktree Real Estate Opportunties Fund VIII
• Odyssey Investment Partners VI
• Owl Rock Capital Corporation
• PGIM
• PIMCO (Climate Action 100+)
• Primus IX
• Primus V
• Primus VI
• Primus VII
• Primus VIII
• Proterra Credit Fund 2
• Prudential Prisa
• PSOO LP
• PW Real Estate Fund III
• Raven Asset Based Credit Fund II
• Resolute Fund III
• Resolute Fund IV
• Rhone Partners V
• Riverstone Global Energy & Power Fund VI
• RRJ Capital Master Fund III
• Russell Portable Alpha Overlay
• Russell R2000 Derivatives
• Russell/Transition Account
• Savanna Real Estate Fund III
• Starwood Hospitality Fund I
• State Street Russell 1000 Index
• Stockbridge II
• Summit Growth Equity Fund VIII
• TA XI LP
• TA XII LP
• TA XIII LP
• TA XIV LP
• Tenex II
• Tennenbaum Direct lending Fund VIII
• Tennenbaum Enhanced Yield Fund
• Tri Con Fund VII
• Trident VII
• Trident VIII
• TriGate Property Partners II
• UBS Trumbull Property Fund
• USAA Eagle Real Estate Fund
• VBI Brazil Real Estate Opportunity Fund II
• Ventas Life Science & Healthcare Real Estate Fund
• Venture Capital In-Kind Distributions
• Veritas Capital Fund VI
• Veritas Capital Fund VII
• Veritas Capital Fund VIII
• Veritas Capital Vantage Fund
• Vista Equity Partners Fund VI
• Vista Equity Partners Fund VII
• Vista Foundation Fund III
• Walton Street III
• Walton Street V
• Waterton Residential Property Venture XIV
• Westbrook VI
• Westbrook VII
• Westbrook VIII

Governance and accountability

This section features information about the nine-member board of trustees that oversees the Ohio Police and Fire Pension Fund. The board is specific to oversight of the Ohio Police and Fire Pension Fund and does not exercise oversight duties for other state funds.

Board selection method

The board of trustees that oversees the Ohio Police and Fire Pension Fund is made up of nine members. One member is appointed by the governor, one member is appointed by the state treasurer, one member is appointed jointly by the Speaker of the House and the Senate President, and 4 are elected by their respective member groups.

Board of trustees membership

A nine-member board of trustees oversees the operation and administration of the Ohio Police and Fire Pension Fund. The following individuals served on the board as of March 2024:

• Marco Miller, chair
• Tanya Czack, vice chair
• Stephen Corvi
• John Deal
• Mark Drum
• Brian Steel
• J. David Heller
• Karin Maloney Stilfer
• Charles Moore

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

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Footnotes

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