Institution: City of Ann Arbor Employees’ Retirement System
Headquarters: Ann Arbor, United States
AUM: $537.38 million
Allocation to Alternatives: 13.95%
City of Ann Arbor Employees’ Retirement System has agreed to commit $8 million to Global Renewable Power Fund III, as confirmed during the institution’s March 2020 meeting. The unlisted equity fund is managed by Blackrock and focuses on the renewables sector.
The $537.38 million pension fund has a 3.0 percent target allocation to infrastructure that currently stands at 1.62 percent. This the first commitment that the institution has made to an unlisted equity fund.
Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.