The Ohio School Employees Retirement System (SERS) has approved two commitments to infrastructure funds totaling $170 million.
The SERS staff investment committee slated up to $100 million to the JP Morgan International Infrastructure Fund and a $35 million commitment to Manulife Infrastructure Fund III, plus a sidecar co-investment of up to $35 million.
Both represent private infrastructure core strategies within SERS’ real assets portfolio, and the pension fund said these investments will be funded from cash reserves.
In related news, Chris Tessman, senior vice president of Wilshire Associates, said SERS’ portfolio continued to perform well for the quarter. All the pension fund’s portfolios were within the established targets, with strategic overweights to global equity and opportunistic and private credit that helped increase quarterly returns for the total fund. These were offset by underweights in fixed income, global real estate and private equity.
