Howard County Mulls $16M Allocation to Infra Fund for 2025 Real Asset Pacing

The Howard County Master Trust is mulling a $16M commitment to a global private infrastructure fund to fulfill its target allocation to real assets for vintage years 2025-2026.

General consultant NEPC recommended the amount in materials from the pension’s December 10, 2024, meeting, following a review of its private markets portfolio for the second quarter of last year. The consultant proposed that the commitment should be made to the asset class every other year due to the “smaller commitment amounts” in the pension’s pacing plan. Howard County last committed to real assets in 2022, when it allocated $5M to IFM Global Infrastructure Fund and $3M to Tiger Infrastructure Fund III.

As of September 30, 2024, Howard County’s total plan assets are valued at approximately $1.62B.