The Maine Public Employees Retirement System (Maine PERS) has approved a commitment of up €135m to the EQT Infrastructure III fund, according to an email.
The pension fund made the commitment on the recommendation of its infrastructure consultant, Cliffwater.
The investment will provide the pension fund with some diversification, as some of EQT’s investments will be in Europe.
EQT said its Infrastructure II fund had invested 40% of its portfolio in the Nordic region and 19% in the rest of Europe.
Capital has also been invested in North America and Asia Pacific.
EQT launched Infrastructure II in 2013 with a total capital raise of €1.93bn, according to its website.
The fund manager targets deals of €50m to €250m in size.
EQT invests in logistics, the intermodal industry, information services, oil and gas installations, rail freight companies and telecommunications.
In April, Maine PERS backed the Meridian Infrastructure Europe III, which focuses on public and community infrastructure, with a $94.4m (€88m) commitment.
This year, the pension fund has also backed the Global Infrastructure Partners III and Brookfield Infrastructure Fund III, with $150m and $100m investments, respectively.
As of September, the pension fund had invested 7% of its $12.6bn in total plan assets in infrastructure.
The targeted allocation for the asset class is 10%.