New Orleans Municipal Employees' Retirement System committed a total of $50 million to private infrastructure funds managed by J.P. Morgan Asset Management and KKR & Co.
The $497 million pension fund's board approved the commitments at its Oct. 21 meeting, said Jesse Evans Jr., director of the pension fund.
NOMERS committed $38 million to the KKR fund and $12 million to J.P. Morgan Global Transportation Income Fund, Mr. Evans said. He could not provide the name of the KKR fund.
The pension fund issued an RFP in May. The other finalist was Macquarie Infrastructure and Real Assets.
Investment consultant AndCo Consulting assisted.
