The $1.3 billion Howard County (Md.) Retirement Plans has earmarked a total of $8 million to infrastructure this year to diversify its real assets exposure.
The pension fund will invest $5 million in IFM Global Infrastructure Fund and $3 million in Tiger Infrastructure Partners Fund III, following a recommendation by NEPC, according to a board meeting document.
IFM Global Infrastructure Fund, managed by IFM Investors, will invest in the energy, social infrastructure, transport, and water and wastewater sectors. The other fund, Tiger Infrastructure Partners Fund III, managed by Tiger Infrastructure, is focused on infrastructure businesses primarily in the communications, energy and transportation sectors in North America and Europe.
In March, NEPC prepared a 2021 real assets pacing plan analysis, calling for allocations to infrastructure to balance the exposure
