Sonoma County Employees’ Retirement Association, Santa Rosa, Calif., committed $75 million to an open-end infrastructure fund managed by IFM Investors, said Steven Marsh, investment analyst.
It is the $2.4 billion pension fund’s first entry into infrastructure, said Mr. Marsh.
The other finalist in the invitation-only search was J.P. Morgan Asset Management.
Investment consultant Aon Hewitt Investment Consulting assisted.
