District of Columbia Retirement Board disclosed a commitment of $75 million to JLC Infrastructure Fund II.
The board completed the commitment to the infrastructure fund Feb. 13, according to a report included with Feb. 16 board meeting minutes.
JLC Infrastructure is a joint venture between Magic Johnson Enterprises and investment bank Loop Capital Partners that focuses on the communications, energy, social infrastructure, transportation and utilities sectors in the U.S., according to its website.
As of Dec. 31, the board's actual allocation to infrastructure was 3.8%; the target is 6%.
The board oversees the investment management of the District of Columbia Police Officers and Firefighters' Retirement Plan and the District of Columbia Teachers' Retirement Plan, which have a combined $10.1 billion in assets.
Gianpiero "J.P." Balestrieri, the board's executive director, could not be immediately reached for further information.