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Investors - JANUARY 30, 2017

New Hampshire commits $50m to energy fund

by Jody Barhanovich

The $7.3 billion New Hampshire Retirement System has committed $50 million to Actis Energy 4, according to recent board meeting documents.

Actis Energy 4, which opened in February 2016, is a closed-end fund that will invest in electricity generation and distribution businesses in Latin America, Africa and Asia. Actis seeks to raise $2 billion in equity commitments for the fund.

This is NHRS’s first commitment to an Actis fund. The fund received a $200 million commitment from the $132.7 million Teacher Retirement System of Texas earlier this month, and a $50 commitment from the $26 billion Texas Employees Retirement System in December 2016.

The fund’s predecessor, Actis Energy 3, held a $1.15 billion final close in 2014, surpassing its initial $750 million equity fundraising target.

NHRS realized a 1 percent return on its assets in fiscal year 2016.

As of June 30, 2016, NHRS had a target allocation to real estate of 10 percent and an actual allocation of 10.7 percent.

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