Awma Okamura

ALLETE is a provider of energy in the upper Midwest, and has a strategic investment in the American Transmission Company. ALLETE’s Minnesota Power electric utility serves 142,000 residents, 16 municipalities and some of the nation’s largest industrial customers. Other businesses include BNI Coal in North Dakota and ALLETE Properties, which owns 10,000 acres of real estate in northeast Florida. ALLETE manages a $382 million pension, of which about $128 million is dedicated to alternatives with $57.1 million dedicated to hedge funds, $50.7 million dedicated to private equity, and $20.1 million dedicated to real estate. The pension targets an asset allocation of: 50% equities, 30% debt, 10% real estate, and 10% private equity. Currently the pension is allocated as follows: 52% equities, 29% debt, 14% private equity, and 5% real estate.