Theodore Hall
Chief Investment Officer
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- Full Name
- Theodore G. Hall
- Title
- Chief Investment Officer
- Firm
- Ohio Police & Fire Pension Fund
- Firm Type
- Public pension fund / institutional asset owner
- Investment Stage
- LP commitments to external funds across private equity, private credit, real estate, and real assets; no verified evidence that Hall is a direct angel or seed investor
- Check Size
- Recent public commitments include $15 million to $75 million fund tickets; OP&F’s 2024-25 private credit plan referenced individual tickets of about $50 million
- Target Company Profile
- Primarily external managers and commingled funds, including direct lending, buyout, technology private equity, real estate, infrastructure, timberland, and real assets strategies
- Sector Focus
- Private credit, private equity, real estate, real assets, infrastructure, timberland, public equities, fixed income, commodities, hedge funds
- Geographic Focus
- U.S. and North America-heavy, with selected European and non-U.S. exposure
- Location
- Columbus, Ohio
Background
Theodore G. Hall, who publicly goes by Ted Hall, is Chief Investment Officer of the Ohio Police & Fire Pension Fund, a Columbus-based public pension system for Ohio police officers, firefighters, retirees, beneficiaries, and survivors. Pensions & Investments lists him as CIO of the fund and reports 2025 defined-benefit assets of $20.754 billion.
Hall’s public LinkedIn profile lists The Ohio Police & Fire Pension Fund as his employer and The Ohio State University as his education. Markets Group’s 2025 institutional CIO profile identifies him as CIO of the roughly $18 billion Ohio Police & Fire Pension Fund and reports a 46-year tenure at the fund.
His role is institutional asset-owner CIO rather than venture angel investor. Public board materials and news coverage show OP&F making LP commitments to private credit, real estate, private equity, and real assets vehicles, with the investment staff and consultants bringing recommendations to the board. In 2016 board minutes, Hall provided the monthly portfolio update and was named on staff memoranda supporting recommendations for Blue Mountain Credit Alternatives and Cinven Sixth Fund.
Investment Thesis & Focus
- OP&F is governed as a public pension fiduciary. Ohio law states that OP&F fiduciaries must act “solely in the interest” of participants and beneficiaries and says investment decisions must have the “sole purpose of maximizing the return.”
- The fund is a multi-asset allocator, not a direct startup investor. Public data show exposure to equities, fixed income, private equity, real estate, cash, commodities, and hedge funds.
- Private credit has been an active area: OP&F planned 4 to 5 private-credit commitments in 2024-25 with individual tickets around $50 million, plus a $25 million to $50 million private-credit co-investment program.
- Real estate and real assets remain active allocation areas. In late-2024 materials summarized by Dakota, OP&F was considering up to $685 million of combined 2025 commitments to real estate, real assets, and private markets, including non-core real estate and infrastructure.
- Private equity pacing is focused on maintaining allocation and vintage-year diversification. Dakota reported a $195 million to $225 million 2025 private-equity commitment target to maintain OP&F’s 10% long-term benchmark.
Notable Investments
- Audax Direct Lending Solutions Fund III-A: Up to $50 million commitment disclosed in January 2026 board materials; core middle-market direct lending strategy.
- Francisco Partners Agility Fund IV: Up to $15 million commitment approved in January 2026; technology and tech-enabled services private equity strategy.
- OHA Senior Private Lending Fund: Up to $50 million commitment reported in June 2024; loans to upper middle-market borrowers in diversified industries, primarily in the U.S.
- Fortress Lending Fund IV: Up to $50 million commitment reported in June 2024; private credit strategy focused on a broad range of industries, primarily in North America.
- Fairfield Value-Add Multi-Family Fund IV: $75 million real estate commitment reported in June 2024; U.S. multifamily value-add opportunities.
- Cinven Sixth Fund L.P.: Up to €31.2 million, approximately $35 million, approved in March 2016; European private equity fund commitment.
- Flight Fund I / Blue Mountain Credit Alternatives: Approved in March 2016 via Grosvenor Capital Management; multi-strategy / credit alternatives exposure.
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