District of Columbia (DC) Retirement Board has approved a $100m (€92.9m) commitment to the latest mid-market infrastructure fund managed by Tiger Infrastructure Partners.

The pension fund disclosed in a meeting document that it has placed the capital into Tiger Infrastructure Fund IV, the latest fund in a series known for targeting a 20% gross return and investing in the US with some additional exposure to European markets.

DC Retirement Board is joining the fund as an early investor. The target size of the fund is currently unknown.

Tiger Infrastructure raised $1.25bn for its third mid-market fund which closed in April 2022.   

DC Retirement Board also disclosed that it had made a $100m commitment – pending legal review and final due diligence – to Fund U, a US real estate fund.

The pension fund has also placed $75m into the Elion Industrial Fund II.

In February, IPE Real Assets reported that Elion Partners had at the time raised $400m for its second US industrial real estate fund.

Fund II, which has a $750m fundraising target and a $1bn hard cap, is expected to have a final close in June this year.

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