Tacoma Employees’ Retirement System (TERS) has committed up to $30 million to Pantheon Global Infrastructure Fund II, chief investment officer Timothy Allen told Infrastructure Investor in an email response.
TERS joins a number of pension funds elsewhere in the US, such as the Sacramento County Employees’ Retirement System (SCERS), that have recently made first moves to gain exposure to the asset class.
The ultimate decision to invest in the fund, an unlisted infrastructure fund of funds managed by Pantheon Ventures, is “still subject to our legal review process and of course final acceptance by the manager,” Allen said in the email.
“I believe this will be TERS’ only investment in infrastructure for the foreseeable future,” Allen added.
TERS was established in 1941 to provide employees with retirement benefits. It has $1.26 billion worth of asset under management, according to Infrastructure Investor Research & Analytics.