The board of the $1.4 billion Tacoma (Wash.) Employees’ Retirement System has approved a commitment of up to $30 million to Pantheon Global Infrastructure Fund II, managed by Pantheon Ventures. The commitment, which was confirmed by Timothy Allen, chief investment officer with TERS, is still subject to TERS’ legal review process.
The infrastructure fund launched in December 2013 with a fundraising goal of £350 million ($589.4 million). Pantheon’s infrastructure program will focus on secondaries and co-investments across a wide array of infrastructure classes.
If it passes the legal review process, the investment will be housed in TERS’ real assets allocation and be the retirement system’s second investment within the category. The first investment, a commitment to Tortoise Capita