The Merced County Employees Retirement Association (MCERA) has committed a total of $20 million to two infrastructure funds that are currently in fundraising mode, Infrastructure Investor has learned.
The trustees approved a $10 million commitment to KKR and Morgan Stanley infrastructure funds at a September 28th board meeting, Steven Bland, MCERA’s plan administrator, told Infrastructure Investor in an email message.
The two funds are KKR Global Infrastructure Investors Fund II and Morgan Stanley Infrastructure Partners II Fund, according to Bland.
In both cases, the commitments are subject to legal review of the contracts, Bland added.
The MCERA public retirement system was established in July 1950 – it is a multiple-employer defined benefit plan.
As of March 31, it had $632.46 million in assets under management, with 6.7 percent and 4.2 percent dedicated to real estate and private equity respectively, according to its website.