The Fresno County (Calif.) Employees’ Retirement Association (FCERA) has voted to commit an additional $50 million to an open-end infrastructure fund run by IFM Investors, according to recent meeting minutes.
According to the document, FCERA had invested $180 million in the strategy already and had an additional $10.7 million in the queue. The board recommended an incremental commitment beyond that existing in the queue, resulting in a total of $50 million being added to the existing investment.
FCERA said the infrastructure investment could be considered a core strategy.
The pension fund currently has a 4 percent allocation to infrastructure but approved an incremental increase to bring the allocation to 5 percent of the fund. FCERA said the portfolio will accommodate the increased infrastructure investment by drawing from
