Ventura County (Calif.) Employees' Retirement Association's board approved two commitments totaling $75 million.
The $5.9 billion pension fund at its meeting Monday committed $50 million to Brookfield Infrastructure Fund IV, managed by Brookfield Asset Management, said Dan Gallagher, chief investment officer, in an email.
It is VCERA's first diversified infrastructure commitment.
As of Sept. 30, the pension fund's actual allocation to real assets was 7.7%; the target is 7%.
The pension fund also made a follow-on commitment of $25 million to PIMCO Private Income Investment Fund, an evergreen private credit fund managed by Pacific Investment Management Co.
VCERA originally committed $30 million to the fund in March.
As of Sept. 30, the actual allocation to private debt was 0.7%; the target is 3%.
Investment consultant NEPC assisted.
