State of Connecticut Retirement Plans and Trust Funds (CRPTF) intends to invest $75m (€63.6m) in the ISQ Global Infrastructure Fund II.

According to the the pension fund’s board meeting document, I Squared Capital is aiming to raise $5bn for the fund.

The previous fund secured $3bn of commitments in 2014.

The fund will invest globally – mostly in North America and Europe, but also in countries in Asia and Latin America – and will aim to hold 10 to 15 assets, worth between $300m and $1bn each, CRPTF said.

I Squared Capital will taret a variety of sectors, including energy, utilities and transportation.

CRPTF, which is seeking approval for the investment, will place it into its real assets portfolio.

The pension fund is currently below its a 20% target allocation to real assets. A $75m commitment to the ISQ fund will increase its actual exposure to 11.4%.