Contra Costa County Employees’ Retirement Association (CCCERA) is investing $245m (€228m) in value-add infrastructure and opportunistic real estate, according to a board meeting document.
The pension fund has committed $125m to EQT Infrastructure Fund VI, a vehicle that will invest globally in digital, energy/environmental, transportation, logistics and social infrastructure.
This week, EQT announced that the fund had agreed to acquire a majority position in Heritage Environmental Services (HES) from The Heritage Group.
EQT is seeking to raise $20bn for the fund. Two other recent investors in the fund are Teacher Retirement System of Texas, which committed $175m, and Montana Board of Investments, which committed $50m, according to CCCERA.
CCCERA also committed $60m to the KSL Capital Partners Fund VI, a fund that targets opportunistic investments in hospitality and leisure real estate. KSL Capital Partners is seeking $3bn for the fund.
The pension fund committed the same amount to Ares US Real Estate Opportunity Fund IV, which is seeking to raise $3bn and will invest in industrial, multifamily, triple-net lease and rescue capital via structured preferred equity.
Pennsylvania State Employees Retirement System has also approved a $100m commitment to the fund, according to CCCERA.