The Texas Municipal Retirement System is targeting to $500 million toward infrastructure in 2024, according to its recent board-meeting agenda.
TMRS now has allocated 5.3 percent toward infrastructure and for 2024 targets having 6 percent allocated toward infrastructure.
Also included in TMRS’s 2024 pacing budget is a range for target allocation depending on asset class. The retirement system provides a range from $300 million to $600 million for infrastructure.
In 2024, TMRS is splitting up the OPPM category into infrastructure and other private markets, which enables it to provide a more specific budgeting target for infrastructure commitments going into 2024.
TMRS has made $181 million of infrastructure commitments in 2023, with a $150 million commitment to Excelsior Renewable Energy Feeder Fund II-B in March and a $31 million commitment to MTP Zilker AV1 also in March.