Howard County Retirement Plans, Ellicott City, Md., made two new infrastructure commitments totaling $8 million.
The joint committee for the Howard County Retirement Plan and the Howard County Police and Fire Employees' Retirement Plan approved commitments of $5 million to IFM Global Infrastructure Fund, an open-end fund managed by IFM Investors; and $3 million to infrastructure fund Tiger Infrastructure Partners Fund III at its March 25 meeting, recently released meeting minutes show.
The plans' actual allocation to private real assets was 1.1% as of March 25, according to the minutes; the target is 2%.
The two plans have a combined $1.2 billion in assets.
Investment consultant NEPC assisted.
Wanda S. Hutchinson, the county’s human resources administrator, referred questions to the minutes.