St. Louis Employees' Retirement System is searching for its first infrastructure manager to which it plans to commit about $45 million.
The $932 million pension fund issued an RFP for an open-end private core infrastructure fund following the creation of a 5% target to the asset class, said Tom Latzke, vice president at Marquette Associates, the pension fund's investment consultant.
Mr. Latzke said the new target was funded by a reduction in fixed income to 15% from 20%. Funding for this first commitment will come from rebalancing, Mr. Latzke said.
The RFP is available on the pension fund's website. Proposals are due at 4 p.m. CDT on Nov. 1. A timeline for a selection was not provided.
