Pensions&Investments has informed that Alaska Retirement Management Board has committed $300 million total to two infrastructure funds.

The $23.4 billion pension fund committed $200 million to IFM's Global Infrastructure Fund, managed by Industry Funds Management (IFM), and $100 million to J.P. Morgan Infrastructure Investments Fund, managed by J.P. Morgan Asset Management (JPM).

According to the source, those investments are the pension fund's first investments in infrastructure. Alaska Retirement Management Board has a long-term infrastructure target allocation of 12.5% within the real assets portfolio, or 2.125% of total plan assets.

IFM has invested in core infrastructure assets globally since 1995. IFM's Global Infrastructure Fund opened to the wider international investor community in 2009. It allocates capital to hold core infrastructure investments with a net target portfolio return objective of 10% per annum. In 2012, IFM's Global Infrastructure Fund exceeded its return objective, delivering a net return of over 11% to investors.

In January 2013, the fund had raised money from 27 institutional investors in North America, including among others: California State Teachers' Retirement System (CalSTRS); Florida State Board of Administration; Massachusetts Mutual Life Insurance; Maine Public Employees Retirement System; NAV CANADA Pension Plan; and, the Virginia Retirement System.