The Fresno County (Calif.) Employees Retirement System (FCERS) has approved an infrastructure pacing plan for 2025 and 2026, according to meeting materials from Feb. 5, 2025.
FCERS is recommended to launch its noncore infrastructure/real assets program by committing $120 million in fiscal 2025 and $80 million in fiscal 2026. It is recommended that $50 million to $90 million of the initial commitments should be made to infrastructure secondaries managers. In doing so, FCERS will gain more diversification and help manage upfront J-curve impact, says the plan.
FCERS is a public pension fund with $6.6 billion in total assets under management, as of June 30, 2024.
