Quincy (Mass.) Contributory Retirement System committed $5 million to Stonepeak Infrastructure Fund V.
The $801 million pension fund's board approved the commitment to the closed-end global infrastructure fund at its Nov. 16 meeting, recently released meeting minutes showed.
The board also approved a $3 million follow-on commitment to IFM Global Infrastructure Fund, an open-end fund managed by IFM Investors. As of Sept. 30, the pension fund had $8.6 million invested in the IFM fund.
The approvals were the result of an RFP the pension fund issued in July for open-end or closed-end private large-cap infrastructure commingled funds. Global Infrastructure Partners was also a finalist.
As of Sept. 30, the actual allocation to infrastructure was 1.6%; the target is 2%.
Investment consultant Meketa Investment Group assisted.