Employees Retirement System (ERS) of Texas has approved $175m (€149.4m) to infrastructure funds managed by I Squared Capital, KKR and Actis, along with a real estate allocation to 1 Seed Partners.
The pension fund said it made a $75m commitment to I Squared Capital’s ISQ Growth Markets Infrastructure Fund II. The value-add fund is seeking $3bn to invest in energy, utilities, telecommunications, social and transport sectors in the Asia-Pacific and Latin America regions.
Texas ERS also approved a $40m commitment to KKR Asia Pacific Infrastructure Investors III, a fund that targets renewables, power/utilities, water/wastewater, digital and transportation investments.
The new KKR vehicle’s fundraising details remain unknown, but its predecessor closed on $6.4bn in January 2024.
Texas ERS committed $35m to Actis Energy 6, a global fund that targets sectors like power generation, electrical transmission/distribution and other energy-related entities.
The pension fund’s real estate allocation to real estate was a $25m commitment to 1SP ERS PREEM III.
US real estate private equity firm 1 Seed Partners has a history of providing capital to small and early-stage managers.
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