The City of Fresno (Calif.) Retirement Systems has approved an infrastructure pacing plan that would increase its allocation to the asset class from 5.7 percent to 7 percent.
Each year, NEPC provides a review of the private markets allocations to determine the commitment budget for the upcoming year, with the goal of developing a program that will invest in various strategies and achieve returns more than the public market.
Under the pacing plan, the infrastructure portfolio’s net asset value is expected to climb from $197.2 million at the end of 2022 to $216.2 million by December 2023.