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Another Massachusetts pension looks to infra

The Worcester Regional Retirement System is planning to spend $5m to $10m on an experienced infrastructure manager. The $400m fund has issued a request for information with a deadline of March 7.

The Worcester Regional Retirement System issued a request for information (RFI) for an infrastructure fund manager, according to Meketa Investment Group, the consultant for the pension fund.

The pension, which has $400 million under management, is in the market for a “closed-end” strategy in particular and is interested in committing between $5 million and $10 million to infrastructure. 

The RFI also indicated the system is interested in “global” infrastructure and claimed manager experience would be required to receive consideration. The deadline for the RFI is Wednesday, March 7. System chairman Kevin Blanchette did not return a voicemail message seeking comment.

Worcester Retirement System is the second Massachusetts pension fund to seek out an infrastructure allocation using Meketa as a consultant. The $100 million Lexington Contributory Retirement System has retained Meketa to find a manager for a $3 million to $6 million infrastructure allocation.

Based in San Diego, Meketa, which has an office in Boston, is also an adviser to the California Public Employees’ Retirement System (CalPERS), which is planning to invest $800 million in infrastructure.