The Tacoma (Wash.) Employees' Retirement System (TERS) has approved a $50 million commitment to Pantheon Global Infrastructure Fund IV, according to sources with knowledge of the matter.
According to a document from the pension fund’s June 10 meeting, the original intent was for a $40 million commitment, but after discussion the board chose to up the amount to $50 million.
“As our assets have risen above $2 billion, we want to ensure a meaningful investment when we have strong confidence in a team,” said Tim Allen, CIO of TERS, in an email.
This is TERS’ third private infrastructure investment with Pantheon, following previous commitments of $30 million and $40 million to PGIF II and PGIF III, respectively.
Allen said the pension fund has asked Wilshire Associates to identify another private real assets opportunity (likely in t
