The Alaska Retirement Management Board (ARMB) has invested in two open-end private investment funds sponsored by J.P. Morgan and Industry Funds Management (IFM), according to a recent board meeting packet.
The investments are focused on essential core public infrastructure, with assets ranging from regulated water, regulated electricity, airports, to pipelines, toll roads and ports.
ARMB’s infrastructure portfolio mix is 18 percent invested with JPM and 82 percent, with IFM.
Although the board has decided to invest $400 million in core real estate in fiscal year 2022 to meet allocation requirements, no changes were recommended for the infrastructure portfolio. As of June 30, the infrastructure portfolio had a net asset value of $742.1 million.