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New York City pension fund commits $350m to infrastructure

by Zoë Wolff

The $154.4 billion New York City Retirement Systems has committed $350 million to Global Infrastructure Partners III.

The fund, managed by Global Infrastructure Partners, will invest in large-scale infrastructure assets globally. The fund is seeking to raise up to $15 billion and has received commitments from the Maine Public Employees Retirement System, the Arkansas Teacher Retirement System, the Washington State Investment Board and the El Paso Firemen & Policemen Pension Fund. GIP II, the fund’s predecessor, held a final close of $8.25 billion in September 2012.

This is the pension fund’s first commitment to a Global Infrastructure Partners fund. The pension fund has a 4.7 percent allocation to real assets.

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