Newport News Retirement Allocates $20M to Infrastructure Managers

The Newport News Employees’ Retirement Fund approved two commitments totaling $20 million to infrastructure, according to minutes from the April 25th Board meeting. 

$10 million was committed to BlackRock Global Renewable Power Fund IV and an additional $10 million to Grain Communications Opportunity Fund IV. 

Meketa assisted with the recommendations.

As of June 30, 2023, the $1.1 billion pension fund allocates approximately 5.4% to natural resources and infrastructure with a target of 5%. 

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