The $8.3 billion Michigan Office of Retirement Services has made a $100 million follow-on commitment to GCM Grosvenor Customized Infrastructure Strategies III, a closed-end fund managed by GCM Grosvenor.
GCM Grosvenor Customized Infrastructure Strategies III is focused on fund investments, secondary fund investments and co-investments around the globe, with a preference for OECD countries. The fund invests in power generation, energy, transportation, regulated utilities, social and public/private partnerships, and telecommunications infrastructure. Both brownfield and greenfield infrastructure assets will be considered.
Michigan previously invested $60 million in GCM II and $40 million in GCM Co-investment in 2014, $15 million in GCM Co-investment in 2017, and $45 million in GCM Co-investment in 2012.
As of March 21, the combined actual allocations to real estate and infrastructure were 8.45 percent, against a target of 10 percent.