Shropshire County Pension Fund, Shrewsbury, England, hired Global Infrastructure Partners to run £30 million ($48 million), said a spokesman who asked not to be named.
Funding came from reducing the £1 billion plan’s allocation to U.K. equities, which was overweight its 10% target allocation by about £30 million. The spokesman would not identify the U.K. equity manager, but Shrophire’s website lists Majedie Asset Management as having that role.
The move into infrastructure, the fund’s first, was recommended by investment consultant Russell Investments.
