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Investors - MARCH 30, 2016

Missouri commits $175m to real estate and infrastructure

by Zoë Wolff

The $6.1 billion Missouri Local Government Employees Retirement System has committed $175 million to two funds, according to Brian Collett, CIO.

The pension fund committed $100 million to Global Infrastructure Partners III, managed by Global Infrastructure Partners. The fund will invest in large-scale infrastructure assets globally and is seeking to raise up to $15 billion. The pension fund previously committed $100 million to Global Infrastructure Partners II in 2012.

Additionally, the pension fund committed $75 million to Fireside Real Estate Partners III, managed by Fireside Financial. The value-added fund focuses on multifamily and self-storage properties in the Midwest and is seeking to raise $500 million. The pension fund previously committed $45 million to Fireside Real Estate Partners II in 2012 and $30 million to Fireside Real Estate Partners I in 2008.

The pension fund has a 17.9 percent actual allocation to real assets — which includes both real estate and infrastructure — and a 21 percent target allocation to the asset class.

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