PI Global Investments
Hedge Funds

Ohio State University investments up 1%, topping benchmark with bond performance

Complete returns by asset classes were not available. Results and benchmarks for illiquid categories lagged by one quarter.

For the fiscal year ended June 30, the pool’s cash and high-grade bonds asset class returned -3.2%, above its benchmark return of -10.3%, and public equities returned -15.8%, equal to its benchmark.

The actual allocation as of June 30 was not provided. According to the university’s investment policy posted on its website, the long-term investment pool has target ranges of 30% to 55% public equities, 15% to 40% private equity, 5% to 15% each infrastructure and real estate, and zero to 25% each cash/high-grade bonds and hedge funds.

As of June 30, 2021, the most recent data available, the actual allocation was 67.8% global equities, 23.6% global fixed income and 8.6% real assets.

Within global equities, allocations were 42.8% (of the total investment pool) to public equities, 17.1% buyout/growth private equity, 5.7% venture capital and 2.2% natural resources.

Within global fixed income, allocations were 9% fixed income, 8.2% hedge funds, 4.6% private credit and 1.8% public credit.

Real assets was made up of 4.2% infrastructure, 2.6% real estate and 1.8% liquid real estate. The long-term investment pool has $7 billion in assets, which includes $2.6 billion in endowment assets.

Vishnu Srinivasan, vice president and chief investment officer, could not be immediately reached for further information.

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