SCERA to increase infra target with $70m commitment

The US public pension has backed a North America focused fund.

Institution: Sonoma County Employees’ Retirement Association
Headquarters: Santa Rosa, United States
AUM: $2.97bn
Allocation to Alternatives: 17.01%
Bitesize: $50-100m

Sonoma County Employees’ Retirement Association approved a commitment of $70 million to Axium Infrastructure US Fund II in late 2019, according to the pension. The North American-focused fund is managed by Axium Infrastructure.

The $2.97 billion US public pension has a 3.0 percent target allocation to infrastructure that currently stands at 3.46 percent. This target allocation will increase to 5.0 percent once the capital committed to this fund has been drawn down.

As illustrated below, SCERA allocates 17.01 percent of its investment portfolio to alternative assets.

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