Missouri Local Government Employees Retirement System, Jefferson City, committed $75 million to infrastructure Stonepeak Opportunities Fund and €65 million ($68 million) to buyout fund FSN Capital Compass I.
The pension fund's investment staff disclosed the commitment at its meeting on Dec. 2.
Meghan Loehner, deputy chief investment officer of the $9.7 billion plan, confirmed by email that "these are the first commitments to these fund series."
The pension fund also said in the release that it delivered a net return of -3.27% for the one-year period ended Sept. 30, compared with a -6.3% net return for the policy benchmark. For the three-year, five-year and 10-year periods through Sept. 30, LAGERS showed annualized net returns of 8.14%, 8.19% and 8.57%, respectively, compared with respective benchmark returns of 5.06%, 5.9% and 6.35%.
Ms. Loehner said by email the fund returned a net 24.6% for the year ended Sept, 30, 2021.
As of Sept. 30, the pension fund had a 31.8% allocation to real assets, 27.7% to fixed income, 25% to equity, 9.2% to alpha and 6.3% to strategic investments.