Ann Arbor (Mich.) Employees' Retirement System committed $15 million to J.P. Morgan Infrastructure Investments Fund.
The $631 million pension fund's board approved the commitment to the open-end infrastructure fund managed by J.P. Morgan Asset Management at its Aug. 19 meeting, recently released meeting minutes show.
The pension fund's target allocation to infrastructure is 3%. As of June 30, the pension fund had no investments in the asset class, according to its most recent investment report.
Investment consultant Meketa Investment Group assisted.
Executive Director Wendy Orcutt could not be immediately reached for further information.