Ann Arbor (Mich.) Employees' Retirement System committed $8 million to BlackRock Global Renewable Power Fund III.
The $537 million pension fund's board approved the commitment to the infrastructure fund at its March 19 meeting, recently released meeting minutes show.
According to the minutes, this is the pension fund's first infrastructure commitment and a target allocation to 3% to the asset class has been discussed.
How the new target will be funded could not be immediately learned.
Investment consultant Meketa Investment Group assisted.
Wendy Orcutt, executive director, could not be immediately reached to provide further information.
