Alaska Retirement Management Board, Juneau, committed $300 million total to two open-end infrastructure funds, confirmed Alyson Campbell, assistant investment officer.
The $23.4 billion pension fund committed $200 million to IFM Global Infrastructure Fund, managed by Industry Funds Management, and $100 million to J.P. Morgan Infrastructure Investments Fund, managed by J.P. Morgan Asset Management.
It is the pension fund's first investments in infrastructure. The pension fund has a long-term infrastructure target allocation of 12.5% within the real assets portfolio, or 2.125% of total plan assets.
Investment consultant Callan Associates initiated the shortlist search in February.