Investors - NOVEMBER 26, 2014

North Dakota pension commits to infrastructure

by Reg Clodfelter

The $9.7 billion North Dakota State Investment Board has committed up to $105 million to an infrastructure fund managed by Grosvenor Investment Management. The name of the fund could not be disclosed at this time.

“We have an existing infrastructure investment with Grosvenor, and this is a follow-on to it,” explains Dave Hunter, executive director and chief investment officer with the North Dakota Retirement and Investment Office, which serves the NDSIB. “It has performed well since inception, and we look forward to hopefully realizing those historical benefits and returns going forward.”

The state investment board originally committed $75 million in late 2011.

NDSIB has a target allocation to infrastructure of 5 percent within the pension trust, and is approximately 4 percent allocated to the sector this time. The state investment board anticipates making further infrastructure investments during fiscal year 2015 based upon asset growth, Hunter adds.

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