Rhode Island State Investment Commission, Providence, committed $50 million to IFM Global Infrastructure Fund, managed by Industry Funds Management, according to recently released minutes of the June 26 board meeting.
The state investment commission, which oversees the $7.7 billion Employees' Retirement System of Rhode Island, Providence, issued an RFI for infrastructure managers in February. It has a 3% target allocation to the asset class.
Investment consultant Pension Consulting Alliance assisted.
Spokeswoman Joy Fox could not be reached for additional information.