Infrastructure
The fund received educations on the two asset classes at its investment committee meeting last week as part of an ongoing asset/liability study.
The retirement system added the two new asset classes as part of a completed asset allocation study.
The commitments were made across private equity, credit and real assets totaled $725 million.
The retirement system hired a global equity manager to handle $500 million and added two commitments with existing manager relationships last week.
The pension fund is seeking a manager to handle a diversified real assets strategy that must include commodities, precious metals and infrastructure/real estate.
The fund will also review a high-yield fixed-income manager search request from staff at its June 13 board meeting.
The pension plan is searching for private equity funds in buyout technology and enterprise software as well as infrastructure secondaries funds.
The plan added a maiden target to infrastructure as part of a revised real return portfolio.
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.