North Dakota RIO approves $200m commitment

The US pension has backed GCM Grosvenor's latest infrastructure offering.

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Institution: North Dakota Retirement and Investment Office
Headquarters: Bismarck, US
AUM: $18.5 billion
Allocation to alternatives: 20.8%

North Dakota Retirement and Investment Office has agreed to commit $200 million to GCM Grosvenor Customized Infrastructure Strategies III, according to the pension’s February 2021 board meeting minutes.

The $18.5 billion US pension has previously committed to each of CIS III’s two predecessors, with $105 million being allocated to fund I and $75 million to fund II.

GCM Grosvenor‘s third customised infrastructure strategies vehicle is currently in market targeting $750 million in LP Capital. CIS II held a final close in May 2017 at $643 million.

North Dakota ROI has a 6.6 percent target allocation to infrastructure, which currently stands at 4.4 percent.

As illustrated below, the pension’s recent infrastructure fund commitments have predominantly targeted global unlisted equity vehicles.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.