TCERA to add infrastructure to investment portfolio

The US public pension plans to have an initial infrastructure target allocation of 4 percent.

-

Institution: Tulare County Employees Retirement Association
Headquarters: Visalia, United States
AUM: $1.97 billion
Allocation to alternatives: 19.8%

Tulare County Employees Retirement Association has approved a recommendation to add infrastructure to its investment portfolio at its August retirement board meeting, a contact at the pension confirmed to Infrastructure Investor.

The recommendation was put forth by the pension’s investment consultant, Verus Advisory, whose contract was recently renewed following the issuance of an RFP late last year.

TCERA plans to have an initial infrastructure target allocation of 4 percent. According to board documents, the pension would need to make $80 million in commitments to achieve its target allocation if an open-ended strategy is chosen. Infrastructure will form part of its real asset portfolio.

As illustrated below, TCERA currently allocates 19.8 percent of its investment portfolio to alternatives. The pension’s retirement administrator is Leanne Malison.

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