Los Angeles County Employees Retirement Association (LACERA) has made a $600m (€543.1m) commitment to an open-ended global infrastructure fund managed by Macquarie Asset Management.
The $72.6bn pension fund disclosed in a meeting document that it had placed the capital into the Macquarie Global Infrastructure Fund, a core fund that mainly targets assets in North America, Europe and Asia Pacific.
LACERA also approved $50m to co-invest alongside the DIF Core Infrastructure Fund (CIF) III and DIF Infrastructure VI (DIF VI) funds managed by DIF Capital Partners.
CIF III, which seeks to raise €1.5bn, targets mid-sized, core-plus infrastructure companies located in Europe, North America and Australasia. DIF VI is a global infrastructure fund wich raised €3bn at its final close in October 2020.
LACERA made a $46m co-investment into the Partners Group Direct Infrastructure 2020.
The pension fund made a $200m commitment directly into the global core-plus fund Partners Group fund in 2021. The Partners Group Direct Infrastructure 2020 fund targets renewables, communications, transportation, social and waste management investments.
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