Los Angeles County Employees Retirement Association (LACERA) has approved $415m (€348.7m) worth of commitments into two open-ended North America funds managed by Axium Infrastructure.
The pension fund said in a meeting document that it has made $165m and $250m commitments into Axium’s Canada and US funds respectively, without disclosing the names of the funds.
LACERA said the funds will place capital into middle-market assets that are contracted and/or regulated assets.
The sectors being targeted by the commingled funds are the energy, transportation and social sectors of infrastructure.
LACERA did not respond to a request for comment.
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