Infrastructure
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.
Hamilton Lane predicts that evergreen funds will grow faster than the overall rate of public markets over the next five years.
The retirement system hired five managers to each handle between $50 million and $75 million yesterday.
The position will drive environmental sustainability, climate risk management and responsible investment across its global investment strategies.