Stanislaus County Employees’ Retirement Association, Modesto, Calif., committed $20 million to Palistar Digital Infrastructure Fund III.
The $2.8 billion pension fund disclosed the April 30 commitment to the communications infrastructure fund managed by Palistar Capital in a memo to the board from Stan Conwell, retirement investment officer, included with May 28 meeting materials.
StanCERA previously committed $20 million to Melody Communications Infrastructure Fund II in January 2022. The manager changed its name from Melody Investment Advisors to Palistar Capital later that year.
As of April 30, the pension fund’s actual allocation to infrastructure was 7.3%; the target is 7.5%.
Investment consultant NEPC assisted.
