California Public Employees Retirement System (CalPERS) has made $1.9bn (€1.6bn) worth of infrastructure commitments through funds managed by Brookfield Asset Management, TPG and Copenhagen Investment Partners (CIP).
The $506.6bn pension fund disclosed in a board meeting document that it had placed $1bn into Brookfield Global Transition Fund II, committed $500m to TPG Rise Climate Transition Infrastructure and placed $406m into CIP’s Borealis CI Co-investment fund.
The commitment to the Brookfield fund comprised a $500m investment directly into the fund with the other half set aside to co-investing alongside the fund. Brookfield is nearing the final close of its global fund, which has a $17bn capital raising target.
The TPG fund, which has a fundraising target of $8bn and a $10bn hard cap, focuses its investments on sectors including solar power, energy transition and green mobility.
The details of the CIP fund are currently unknown.
CalPERS also disclosed in the meeting document that it made a $1.5bn commitment to Blackstone’s latest global real estate debt fund.
Blackstone Real Estate Debt Strategies V’s investment focus includes real estate lending, liquid securities, structured solutions to financial institutions and corporate credit.
As of the end of March this year, Blackstone had raised $8bn for the fund.
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