Merced County (Calif.) Employees' Retirement Association made two new infrastructure commitments totaling $10 million, said Kristen Santos, retirement plan administrator, in an email.
The $836 million pension fund committed $5 million each to Ardian Infrastructure Fund V and BlackRock (BLK) Global Energy and Power Infrastructure Fund III. Both are first-time commitments to the managers, Ms. Santos said.
As of June 30, the actual allocation to real assets was 5.9%.
Private equity and hedge fund consultant Cliffwater assisted.