Manchester (N.H.) Employees' Contributory Retirement System committed $5 million to HarbourVest Real Assets Fund IV.
The $234 million pension fund's board approved the commitment to the diversified real assets fund managed by HarbourVest Partners at its meeting Tuesday, said Gerard Fleury, executive director, in an email.
The HarbourVest fund invests opportunistically across infrastructure, energy, natural resources and power.
MECRS conducted a shortlist search, and the other finalists were Ares Management and Kayne Anderson Capital Advisors.
The pension fund's target allocation to real estate/real assets is 12%.
Investment consultant NEPC assisted.