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Missouri Retirement commits $175m to real assets

by Reg Clodfelter

The $6.2 billion Missouri Local Government Employees Retirement System (MOLAGERS) has committed $75 million to Fireside Real Estate Partners III and $100m to Global Infrastructure Partners III, confirms Brian Collett, chief investment officer with the retirement system.

“We are investors in each of these manager’s previous funds and were very satisfied with the managers’ performance and investment style,” Collett added, in an email correspondence.

FREP III, managed by Fireside Financial, is a $500 million fund that launched in February 2016. The firm primarily focuses on value-add investments in the multi-family and self-storage sectors in the Midwest region.

GIP III, managed by Global Infrastructure Partners, is a high-yield fund looking to raise as much as $15 billion to invest in large-scale infrastructure assets globally. Its predecessor closed in September 2012 after raising $8.3 billion.

Each of these investments fits into MOLAGERS’ real assets/real return bucket, which is currently 21 percent of its total portfolio.

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