Infrastructure
The fund closed at €21.5 billion in total commitments, a 35% increase from its predecessor.
The retirement system disclosed infrastructure and credit commitments totaling $300 million at today’s board meeting.
The retirement system’s existing consultant will see its contract expire on Dec. 31.
The retirement system approved two infrastructure commitments at its investment committee meeting yesterday.
The pension plan also made a real assets commitment this week.
The infrastructure commitment was under consideration at a meeting this week to complement an existing manager as the health system is also underweight its target to the asset class.
The pension plan made a core bond investment as well as an infrastructure commitment totaling $210 million last week.
After showing consistent returns over the last two decades, private infrastructure funds offer attractive investment opportunities for nonprofits, due to growing demand, diversification of assets and mandated revenue structures of infrastructure projects.
The retirement system also canceled its general investment consultant RFP and approved a 2025 private markets pacing plan in January.
The fund has received more than €12 ($13) billion in total commitments.