Northleaf Capital Partners has so far secured over $1.4bn (€1.3bn) in capital commitments for its latest infrastructure fund, according to a board meeting document from the Teachers’ Retirement System of Louisiana.
Northleaf Infrastructure Capital Partners IV fund, according to a board meeting document from the Teachers’ Retirement System of Louisiana.
Louisiana Teachers disclosed that it has approved a $50m commitment to the Northleaf Infrastructure Capital Partners IV fund, which seeks to raise $2.5bn with no hard cap.
Northleaf’s Partners IV, has a global mid-market investment strategy with a primary focus on North America. The fund targets net internal rates of return of 10% to 12% and cash yields of 5% to 7%.
The fund has so far invested in sub-metering provider Provident Energy, fibre-to-the-premise network operator Tillman Fiber, electric vehicle charging platform EVPassport and short-term sea container terminal firm Combined Cargo Terminals.
Partners IV also has seven other potential investments under consideration, according to the meeting document.
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