$100m manager search for Alaska pension

The Alaska Retirement Management Board is looking to allocate up to $100m to infrastructure. The $21bn Board has undertaken a manager search.

The Alaska Retirement Management Board (ARMB) is considering investing in infrastructure and has tasked its pension consultant Callan Associates with heading a manager search.

The Board has decided “not to constrain” its criteria for its potential allocation to the asset class, said Gary Bader.

Bader, chief investment officer (CIO) of the Alaska Department of Revenue, said the search would not be limited to private infrastructure, and could include publicly traded equity.

The Department is responsible for managing the ARMB, a $21.6 billion pension fund system based in Juneau, Alaska.

Infrastructure Investor has learned ARMB is expecting to commit $100 million to the asset class, while Bader said the search could result in the Board hiring “one manager or more”.

Bader went on to speculate that the Board could select a manager by June. Infrastructure, Bader explained, is nestled into ARMB's ‘real asset’ portfolio.

The Board has a current $108 million commitment to EIG Global Energy Partners.

“Infrastructure is attractive because of its inflation protected return,” Bader said.