Merced County (Calif.) Employees' Retirement Association committed $5 million to ISQ Global Infrastructure Fund III.
The $916 million pension fund's board approved the commitment to the infrastructure fund managed by I Squared Capital at its Aug. 27 meeting, said Kristen Santos, retirement plan administrator, in an email.
The pension fund previously committed $5 million to ISQ Global Infrastructure Fund II in 2017.
As of June 30, the pension fund's actual allocation to real assets was 5.2%; the target is 5%.
