The Illinois State Universities Retirement System (SURS) has approved a $50m (€45.9m) commitment to Ember Infrastructure’s latest fund.
The pension fund’s contribution to Ember Infrastructure Fund II is not expected to exceed 10% of the Ember fund’s overall capital raise.
Fundraising details of Fund II are currently unknown. Fund manager Ember raised over $340m for Ember Infrastructure Fund I which closed in June last year.
According to Illinois SURS, Ember invests in infrastructure projects that reduce carbon intensity, increase resource efficiency, and enhance climate resilience.
Ember, which is focused on investing with US-based firms, targets energy transition, water, waste, industrial and agriculture sectors.
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