Merced County (Calif.) Employees’ Retirement Association named KKR & Co. and Morgan Stanley Investment Management as finalists in its search for an infrastructure manager to run up to $20 million, Steven Bland, plan administrator, said in an e-mail.
The $642 million pension fund began a shortlist search in June after creating a new 3% target allocation to infrastructure in December.
The firms will make presentations at the pension fund’s Sept. 25 board meeting.
Investment consultant Strategic Investment Solutions is assisting.
