The $29 billion South Carolina Retirement System Investment Commission has approved its first investment in infrastructure.
The retirement system has committed an initial $275 million to Deutsche Global Infrastructure Securities strategy, managed by the RREEF Americas unit of Deutsche Asset Management. The long-term allocation will be up to 2.5 percent of the pension fund’s total assets. The capital will be invested in the transportation, regulated utilities and communications sectors in the United States and Europe.
In February, the investment commission approved a new portfolio model that created a 3 percent allocation to infrastructure.