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Ohio Police & Fire Pension Fund
Ohio Police & Fire Pension Fund: CIO Ted Hall runs $18.9B for 28,000 active cops and firefighters. Founded in 1965 to replace 454 local pension funds.
Ohio Police & Fire Pension Fund
The Ohio General Assembly created OP&F in 1965 to consolidate 454 separate municipal police and fire relief funds across the state. It began operations on January 1, 1967, and today serves more than 28,000 active police officers and firefighters, alongside roughly 18,000 retirees and 8,000 beneficiaries. Though an established public pension, Executive Director Mary Beth Foley and CIO Ted Hall run the fund less like a sleepy government office and more like a multi-asset institutional investor — a posture that landed it in the first percentile among peer pension funds according to ORSC consultant reports cited on its own site. The investment program spans real assets, private markets, and private credit, with real estate prominently visible through fund commitments to vehicles managed by Morgan Stanley, Blackstone, Prologis, and Blue Owl. Confirmed positions include Lion Industrial Trust, Exeter Industrial Value Fund V, LaSalle Property Fund, and Asana Partners Fund I — a mix of core industrial and commercial strategies skewed toward the United States and Canada. The fund also holds direct interests in midstream energy infrastructure and maintains a dedicated gold allocation within its real assets portfolio, which stretches globally. Team size is not disclosed, but governance is layered under an elected board chaired by Brian Steel (Columbus Police) and vice-chaired by Stephen Corvi (Columbus Fire), with investment expert members J. David Heller of NRP Group and Charles O. Moore of Riverside Bank of Dublin providing private-market oversight. Adjacent activities include the OP&F Charity Champions program and the Ohio Police and Fire Memorial Park — a memorial and public space in Columbus that also functions as a real property holding on the fund's books. OP&F holds memberships in NCPERS, CII, PREA, and ILPA. Structurally, OP&F differs from peer public pensions in one important way: it is a single-state, single-industry retirement pool covering only public-safety workers. That narrow liability profile gives it an unusually concentrated set of beneficiary longevity assumptions, which shapes its liability-matching posture. The fund also maintains a co-investment sleeve alongside its fund-of-funds commitments, deploying directly into private market deals when opportunities align.
General information
Firm type
Pension Fund
Year founded
1965
AUM
$18.9 billion (Altss estimate)
Location
Region
North America
Country
United States
City
Columbus
Corporate office
140 East Town Street, Columbus, OH 43215, United States
Principals
Ted Hall
Chief Investment Officer
Mary Beth Foley
Executive Director
Brian Steel
Board Chair
Stephen Corvi
Vice Chair
J. David Heller
Investment Expert Member
Charles O. Moore
Investment Expert Member
Sector focus
Frequently asked questions
Who runs investment decisions at the Ohio Police & Fire Pension Fund?
Ted Hall is the Chief Investment Officer, responsible for the day-to-day investment program and portfolio construction. He reports to a Board of Trustees that includes representatives from the Columbus police and fire departments alongside appointed investment experts J. David Heller and Charles O. Moore. The board sets policy and retains ultimate fiduciary authority over asset allocation decisions.
How does OP&F source its real estate exposure?
Real estate is accessed primarily through third-party fund commitments to institutional managers. The portfolio includes separate accounts and commingled vehicles with managers such as Blackstone, Prologis, Morgan Stanley Prime Property, and Blue Owl. Holdings span industrial, mixed-use, and commercial property predominantly in the United States and Canada.
What investment stages does OP&F typically target in private markets?
OP&F deploys across a wide range of private market strategies including buyout, growth, venture, mezzanine, distressed debt, secondaries, and special situations. The fund also participates in co-investments alongside its fund commitments, providing direct exposure to individual deals when the opportunity set aligns with its underwriting capacity.
Does OP&F invest directly or only through funds?
It does both. Much of the private markets and real estate program runs through named third-party fund vehicles. However, the fund maintains a co-investment sleeve that allows it to write direct checks alongside managers it already backs, and its midstream energy infrastructure and gold positions appear to be directly held.
How is OP&F structurally different from other state public pensions?
OP&F serves only public-safety employees — police and firefighters — which creates a narrower, more homogenous beneficiary base than broad state plans. The original 1965 consolidation of 454 local funds also means its governance includes an unusual board composition weighted toward municipal police and fire representatives alongside investment experts.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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