IPERS issues RFP for infra manager

The US public pension is searching for its maiden infrastructure manager.

Institution: Iowa Public Employees’ Retirement System
Headquarters: Des Moines, United States
AUM: $34.86bn
Allocation to alternatives: 20.96%

Iowa Public Employees’ Retirement System is seeking a debut infrastructure manager to assist with its first foray into the asset class, according to an RFP on the pension’s website.

IPERS is seeking to commit between $400 and $500 million to the asset class, with managers offering open-end structures prioritised. Prospective managers must also have invested at least $2 billion in infrastructure assets as of 31 December 2019 and have a proven track record of investing in infrastructure strategies.

IPERS’ infrastructure investments will be made out of the pension’s private real assets portfolio, which totalled 6.08 percent as of 30 November 2019.

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