Los Angeles County Employees Retirement Association (LACERA) is investing €300m in Ardian’s latest infrastructure fund.

The pension fund is committing €200m to Ardian Infrastructure Fund VI and €100m to a co-investment vehicle, according to its September board meeting.

IPE Real Assets previously reported that Ardian is seeking to raise €10bn for the fund, which will invest primarily in core-plus and value-add energy, transport and telecoms assets in Western Europe.

Some of the fund’s capital will be set aside for greenfield development projects.

As of May 2024, the fund had made three transactions, representing about 20% of its capital.

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