Missouri Local Government Employees Retirement System, Jefferson City, made two new commitments totaling $185 million, CIO Brian K. Collett said.
The $7.8 billion pension fund committed $100 million to AQR Absolute Return Institutional Fund, a multistrategy hedge fund managed by AQR Capital Management. Mr. Collett said the fund invests in all of the strategies AQR oversees.
The commitment falls within the pension fund's alpha portfolio, which had an actual allocation of 13.7% as of Dec. 31; the target is 15%.
LAGERS also committed $85 million to GIP Capital Solutions Fund II, managed by Global Infrastructure Partners. The pension fund previously committed $100 million to GIP Capital Solutions Fund I.
As of Dec. 31, the actual allocation to real assets was 31.6%; the target is 36%.